Canadian Pacific Ltd., one of Canada's biggest and oldest companies, said it would split into five publicly traded firms, a move aimed at shedding a conglomerate discount that had dogged its stock. Besides CP Rail, Canada's No. 2 railway, Canadian Pacific owns 86 percent of cash-rich PanCanadian Petroleum Ltd., the country's top oil and gas explorer and producer, as well as Fording Coal Ltd., CP Ships, a global shipping firm, and CP Hotels. Canadian Pacific, the C$18-billion ($12-billion) transport, energy and hotel concern best known for its national railway, which tied the vast country together in the 19th century, had long been viewed as ripe for breakup because the sum of its parts were seen to be worth more to investors than the whole.