CSX Won't Rule Out M&A
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CSX railroad's CEO signaled he would be open to merger conversations if a deal would boost shareholder value and help the business grow. As merger rumors swirl in the industry, the Jacksonville, Florida-based railroad said Wednesday that its second-quarter profit dipped 14% to $829 million,
Thousands of rail employees across the region are watching developments that could impact their future. The nation’s four largest railroad companies are mulling plans to merge into just two giant systems.
CSX may not be out shopping for a merger partner, but the railroad will consider proposals that would raise shareholder value, improve service, and lead to profitable growth. “We know there’s been a lot of rumor and speculation about consolidation in the railroad industry in recent weeks,
Joe Hinrichs says the company won’t comment on speculation, It cut 77 managerial jobs in Jacksonville on weak freight trends.
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BNSF Tied to Possible CSX Takeover as US Rail Merger Chatter Grows
Speculation follows reports of Union Pacific's pursuit to acquire Norfolk Southern, suggesting wider industry consolidation.
CSX Corporation has become a focal point of merger speculation as industry consolidation gains momentum in the U.S. railroad sector. The company's stock is attracting investor attention following Union Pacific and Norfolk Southern's announcement of potential merger talks,
CSX's Q2 earnings showed a 3% revenue decline, pressured by lower fuel surcharges and weak volumes. Find out why I rate CSX stock as a hold.
According to Oliver Wyman, a consultancy, the share of intermodal goods in America that travel by rail on journeys longer than 1,500 miles increases from 39% to 65% when served by a direct line. Transcontinental railways would mean fewer lengthy stops in Chicago and may make shorter routes near the Mississippi river more profitable.
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The Odds of a Berkshire Hathaway Bid for CSX Are Rising. How Buffett Might Try to Pull It Off.
Acquiring CSX would be expensive for Berkshire, but it would still be accretive to its earnings, one analyst calculated.
CSX Corporation's Q2 earnings were mixed, with revenue down 3.4% year-over-year but operational efficiency improving sequentially. Learn more on CSX stock here.
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