Pan Am

6 Takeaways from CSX’s Hearing on Pan Am Railways

The official focus of CSX’s recent hearing before the Surface Transportation Board was the company’s proposed acquisition of New England short-line railroad Pan Am Railways. But the dominant issues that surfaced — among them, passenger rail versus freight rail and competitive access to new markets — impact the freight rail industry as a whole as it seeks to position itself for more robust competition with trucking.

The following six themes, which played out at the two-day hearing, reflect...

https://www.freightwaves.com/news/6-takeaways-from-csxs-hearing-on-pan-am-railways

Stakeholders detail worries, support on CSX plan to acquire Pan Am Railways

Ensuring competitive access and fortifying passenger rail service are two of the goals that stakeholders want the Surface Transportation Board to achieve as it mulls CSX’s proposed acquisition of New England short line Pan Am Railways.

Opponents and skeptics about the acquisition want STB to make CSX (NASDAQ: CSX) fulfill a number of conditions as part of its approval — if the board approves the application at all — according to their recent filings.

Canadian Pacific is seeking to preserve the...

https://www.freightwaves.com/news/stakeholders-detail-worries-support-on-csx-plan-to-acquire-pan-am-railways

STB tells CSX to refile application to acquire Pan Am Railways

A photograph of a CSX train hauling intermodal containers.

The Surface Transportation Board (STB) has asked that CSX (NASDAQ: CSX) resubmit its application seeking permission to acquire New England short line Pan Am Railways. Filing the application as a “significant” transaction would enable the board to have more time to mull over the acquisition and determine whether any market competition would be lost.

“Based on the information the board has about the possible competitive impacts today, the board is unable to conclude at this stage that any...

https://s29755.pcdn.co/news/stb-tells-csx-to-refile-application-to-acquire-pan-am-railways

Surface Transportation Board chair weighs in on proposed mergers

A composite image of two train locomotives. On the left is CP and on the right is KCS.

Surface Transportation Board (STB) Chairman Martin J. “Marty” Oberman provided glimpses Tuesday into how the agency will consider two proposed acquisitions: CSX’s (NASDAQ: CSX) plan to purchase New England short line Pan Am Railways and Canadian Pacific’s (NYSE: CP) goal of merging with Kansas City Southern (NYSE: KSU).

The board expects to treat the proposed CP-Kansas City Southern (KCS) merger as a “major” transaction.This acquisition would be “the first major transaction to seek board...

https://s29755.pcdn.co/news/surface-transportation-board-chair-weighs-in-on-proposed-mergers

Vermont short line: CSX acquiring Pan Am Railways could hurt competition

A photograph of a train locomotive at a suburban platform.

Critics of CSX’s (NASDAQ: CSX) proposed acquisition of Pan Am Railways in New England say the deal could harm competition and workers.

Vermont Rail System (VRS), a short line operator of six railroads controlled by Trans Rail Holding Co., has qualms with CSX’s plans to acquire Pan Am because of how CSX and Norfolk Southern (NYSE: NSC) will manage joint ownership of Pan Am Southern. 

The operations of Pan Am Southern (PAS), a Pam Am subsidiary that is partly owned by Norfolk Southern (NS) would be...

https://s29755.pcdn.co/news/vermont-short-line-csx-acquiring-pan-am-railways-could-hurt-competition

CSX seeks STB approval of Pan Am Railways acquisition

A photograph of a train locomotive at a suburban platform.

Eastern U.S. railroad CSX (NASDAQ: CSX) has started the regulatory process to acquire New England short line operator Pan Am Railways in a move that CSX hopes will strengthen its intermodal presence in the region.

The company on Thursday submitted its application to the Surface Transportation Board. The application includes a request both to acquire the Pan Am System, which includes Pan Am Railways, and a 50% ownership of Pan Am Southern (PAS). 

“CSX is excited to introduce our customer-centric...

https://www.freightwaves.com/news/csx-seeks-stb-approval-of-pan-am-railways-acquisition

CSX confirms plans to acquire Pan Am Railways

A photograph of a CSX train pulling intermodal containers across a field.

CSX (NASDAQ: CSX) will buy short line Pan Am Railways after all.

The Eastern U.S. railroad said Monday that it has signed a definitive agreement to acquire the railroad. Financial terms weren’t disclosed.

CSX has been considering purchasing the New England short line for weeks, according to reports.

CSX says Pan Am’s subsidiaries make Pan Am the largest regional railroad in North America. The short line operates nearly 1,200 miles of track across New England, with access to multiple ports and...

https://www.freightwaves.com/news/csx-confirms-plans-to-acquire-pan-am-railways

Pan Am, conversions to rail and train lengths — oh my!

A photograph of a CSX train traveling next to a forest.

A CSX (NASDAQ: CSX) executive confirmed that CSX has talked with short line Pan Am Railways about a possible future involving both companies, but he declined to comment further on the issue.

“You might have seen what we’ve sort of said publicly on Pan Am. We did confirm that we have had discussions with Pan Am about that property. Beyond that, I’m not going to comment any further,” said CSX’s Mark Wallace at the Baird investors conference Thursday. Wallace is the executive vice president for...

https://www.freightwaves.com/news/pan-am-conversions-to-rail-and-train-lengths-oh-my