CSX Corporation (NYSE:CSX) - CSX s Application To Acquire Pan Am Railways Denied benzinga.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from benzinga.com Daily Mail and Mail on Sunday newspapers.
CSX’s application to acquire Pan Am Railways denied
CSX to provide market data Surface Transportation Board wants
0 2 minutes read The Surface Transportation Board has denied CSX s application to acquire Pan Am Railways. (Photo: Flickr/Pjedro22 CC BY-ND 2.0 & Flickr/Birmingham Photographer J.g. CC BY-SA 2.0)
The Surface Transportation Board (STB) wants more information about how CSX (NASDAQ: CSX) will integrate Pan Am Railways into its network should it succeed in acquiring the short line operator.
STB said Wednesday that CSX’s application to acquire the New England short line was incomplete. The board considers CSX’s proposed acquisition a “significant” one, and as a result, it is asking CSX to submit a market analysis that includes discussion and data about how the Pan Am acquisition would affect intermodal and intramodal competition as well as impact local markets.