Three days that shifted the transcon merger chessboard: Analysis

Train crossing bridge over canal

What a week this was for unexpected twists and turns in the Class I railroad merger landscape. First, on Monday Berkshire Hathaway Chairman Warren Buffett said the company would not bid on CSX or Norfolk Southern, which had been viewed as potential merger partners for the Berkshire-owned BNSF Railway. A BNSF-CSX combination, in particular, had […]

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Justice Department raises competition concerns over NS control of Virginia terminal railroad

WASHINGTON — The Justice Department yesterday urged the Surface Transportation Board to closely scrutinize Norfolk Southern’s bid for full control of the Norfolk & Portsmouth Belt Line, warning that the move could choke off competition at one of the Port of Virginia’s intermodal terminals. The Justice Department’s Antitrust Division said the 129-year-old Belt Line — […]

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Buffett: Berkshire will not bid for CSX or Norfolk Southern

Train rounding curve in mountains

OMAHA, Neb. — BNSF Railway wants to date CSX — but has no interest in getting married. Five days after Union Pacific announced its $85 billion deal to acquire Norfolk Southern, Berkshire Hathaway Chairman Warren Buffett and CEO designate Greg Abel told CSX CEO Joe Hinrichs that they would not bid for the Eastern railroad. […]

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CSX eyes growth, service gains amid merger speculation

Intermodal train navigating switches

Amid merger speculation and ongoing freight doldrums, CSX will continue to focus on its own growth, service, and operations initiatives, Chief Commercial Officer Kevin Boone told an investor conference today. “Despite a trucking market that’s not really helpful right now … we are seeing truck conversions coming in every week,” Boone says. “I think that […]

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