CP-NS Merger

By the end of 2016, will Canadian Pacific and Norfolk Southern have merged or be in the process of merging?
Yes: 20%
(To be in the progress of merging, both companies must have agreed to the merger.  Not all regulatory decisions need to have been made, but those that have been made must be favourable to the merger.  The merger deal does not need to be the present one.)

Canadian Pacific has made an offer to acquire Norfolk Southern (see articles here and here).  Norfolk Southern management does not seem to be too positive on the deal, and there seem to be significant regulatory hurdles in both the US and Canada.  Last year, CP tried and failed to buy CSX, and CN's attempt to buy BNSF in 2000 ultimately failed to gain regulatory approval.  I think the likely best outcome for this deal is that it will still be in the regulatory process by the end of 2016.