JACKSONVILLE, Fla. — CSX has declined to comment on a Bloomberg report that it has engaged Goldman Sachs to advise it about potential merger options. Today’s news comes in the wake of this week’s announcement that Union Pacific will acquire Norfolk Southern in an $85 billion deal that would create the first transcontinental railroad. Industry […]
WASHINGTON, D.C. — The National Industrial Transportation League said today that rail shippers will not support a transcontinental railroad merger unless it’s accompanied by improvements in service, pricing, and competition. “Despite the promises that rail customers would benefit from mergers through more efficient service, in reality captive rail customers must pay increasingly higher prices for […]
WASHINGTON — Costin Corneanu has been named as Amtrak’s executive vice president, chief financial officer, effective Aug. 4. The Amtrak board approved the appointment today (July 31, 2025). Corneanu will succeed Tracie Winbigler, who will retire on Jan. 1, 2026. Until then, she will remain in her executive vice president role as chief transformation officer. […]
NEWTON, Iowa — Iowa Interstate Railroad and Jasper County, Iowa, on Wednesday announced the launch of the Newton Rail Park, a 367-acre industrial park to feature biofuel and manufacturing industries and offering rail-related logistics. The public-private partnership between the railroad and county has invested $10 million in property acquisition and infrastructure planning, reports the Business […]
Ancora Holdings, the activist investor that waged a proxy battle for control of a beleaguered Norfolk Southern in 2024, now may have CSX in its crosshairs. “We’ve been a growing shareholder in CSX and I think that company finds itself at the crossroads … of whether it wants to find a merger partner or whether […]
WASHINGTON — U.S. weekly rail traffic remained ahead of 2024 levels, albeit slightly, for the week ending July 26, 2025. Total rail traffic for the week was 524,279 carloads and intermodal units, up 1.1% over the same week a year ago. That included 231,029 carloads, up 0.9% compared to the corresponding week in 2024, and […]
CALGARY, Alberta — Canadian Pacific Kansas City CEO Keith Creel today teed off on the proposed merger of Union Pacific and Norfolk Southern, raising a host of questions and concerns about the $85 billion deal that would reshape the railroad industry. Creel, speaking on CPKC’s earnings call, issued a series of warnings about the transcontinental […]
WASHINGTON — Union Pacific and Norfolk Southern plan to file their merger application with the Surface Transportation Board on or before Jan, 29, 2026, according to a notice of intent filed with the Surface Transportation Board today (July 30, 2025). That notice of intent, also known as a prefiling notification, is required under the board’s […]
CALGARY, Alberta — Canadian Pacific Kansas City profits and revenue grew in the second quarter as the railway carried more intermodal, grain, and coal shipments. CEO Keith Creel says the elephant in the room — the proposed Union Pacific-Norfolk Southern merger — does not change the growth opportunities his railway enjoys thanks to its unique […]
The $85 billion Union Pacific and Norfolk Southern merger agreement includes a $2.5 billion breakup fee that anticipates potential twists and turns that could play out over the next two years. The agreement has an expiration date of Jan. 28, 2028, but will be extended automatically if the Surface Transportation Board merger review process takes […]
WASHINGTON — U.S. Sens. Roger Marshall (R-Kan.) and Tammy Baldwin (D-Wis.) are urging the Surface Transportation Board to “keep the best interests of rail shippers and consumers in mind” during the board’s upcoming review of the Union Pacific-Norfolk Southern merger, expressing concerns about the merger’s impact in a letter to board members. Meanwhile, Nebraska’s two […]
WASHINGTON — U.S. Sen. Edward Markey (D-Mass) and Rep. Chris Deluzio (D-Pa.) have reintroduced a bill that would devote $200 billion over a five-year period for rail projects including high speed rail and electrification of some lines. The All Aboard Act, announced by Markey on Tuesday (July 29, 2025) revives legislation introduced late in 2024 […]
