CP Rail(TSX:CP)(NYSE:CP) are wide-moat kings that are forces to be reckoned with. Whenever each firm takes a bit of a spill, buying the dip is typically a pretty wise move, at least over the long term. Of late, though, the entire rail industry has been rattled, especially CN and CP, both of which went duking it out for the right to acquire Kansas City Southern earlier in the year. CN ultimately beat CP with its rich bid of around US$34 billion. After CP refused to sweeten its offer, CN was supposedly to walk away with the incredible rail assets that would have given the firm an unbelievable moat and access to the two major borders in North America.