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Shippers, unions remain mum amid rumors of possible CP-CSX merger
I believe Ms. Curtis is correct. I have trouble with the idea that Hunter Harrison is so almighty powerful that this merger could become reality with just the stroke of his pen. I"m not buying it !! I repeat: NO MORE MERGERS !!
Hunter should not do anything drastic like that in his last year on the job, but I can see his ego desperately wanting to do exactly that: something big.
I wonder what Canadian National and Norfolk Southern are thinking.
Isn’t this familiar? Remember BNSF proposal to merge with CN? This appears to be a way to increase profits by getting out of paying U.S. taxes. I believe the BNSF merger was denied on the basis of creating a reduction in the levels of competitive price rates. I can’t see this “Merger” being approved.
Well, this makes things very interesting! Wow!
i understand that cp rail is selling the bridge line former delaware&hudson division to norforlk&southern so then why sell the line to a compedator when you want to merge with csx wouldn,t you want to keep this line for csx to run up to canada?
Interesting concept: Given the U S Tax Code, why wouldn’t CSX consider selling itself to a foreign entity? Same goes for NS. After all, the pharmaceutical industry has been doing it lately. I don’t really think this is just about crude-by rail.
It’s my understanding the CP is selling the former “Bridge Line” Delaware and Hudson mainline from Mechanicsville, NY south to Binghamton. The line north to Montreal will remain as CP as will access to the Port of Albany and Kenwood Yard. CSX already has a line up to Montreal from Syracuse by way of Massena NY.
Norfolk Southern through a joint venture with Pan-Am Railway (Pan- Am Southern) has recently completed a new Intermodal Terminal in Mechanicsville, to service New England, so the purchase by the Norfolk Southern only makes the most sense.