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RAIL EMPLOYMENT & NOTICES



Rail News Home M&A

3/23/2021



Rail News: M&A

NS concerns over CSX-Pan Am deal resolved


In a March 19 filing with the STB, NS officials said the company supports the proposed acquisition of Pan Am after discussing and working through its initial concerns with CSX.
Photo – nscorp.com

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Norfolk Southern Railway informed the Surface Transportation Board (STB) late last week that it has worked through its initial concerns over CSX's proposed acquisition of Pan Am Systems Inc. and related rail lines, and disagrees with acquisition opponents who say the federal panel should review the matter as a "significant" transaction.

In a March 19 filing with the STB, NS officials said the company supports the proposed acquisition after discussing and working through its initial concerns with CSX leaders.

"The outcome of that negotiation is a carefully and thoughtfully proposed transaction that not only provides sufficient protections for the competitive structure currently in play in the Northeast United States, but . . . also clearly contributes to the public interest in meeting significant transportation needs," the NS filing states.

NS officials also said that other interested parties who want the STB to reclassify the proposed acquisition as a "significant" versus "minor" transaction have failed to prove their case.

Declaring the proposal as a significant transaction would require a longer review period by the STB.

"There is no basis for the board to reclassify or reject the application," the NS filing states.



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