May 29, 2016

Latest CP takeover offer rejected by NS

OMAHA, Neb. (AP)—U.S. News & World Report reported today that Norfolk Southern (NS) denied Canadian Pacific’s (CP) takeover offer, but it appears that CP persists, as they are reportedly set to bring their proposal to NS stakeholders. Read the entire article at  U.S. News & World Report Dec. 8.

NS board rejects offer from CP

Norfolk Southern (NYSE: NSC) announced that its board of directors has unanimously rejected Canadian Pacific’s (NYSE:CP) previously announced unsolicited, low-premium, non-binding, highly conditional indication of interest to acquire the Company for $46.72 in cash and a fixed exchange ratio of 0.348 shares in a new company that would own Canadian Pacific and Norfolk Southern. After a […]

Railroad bridges of the Crooked River

CLEVELAND –- Norfolk Southern owns the Conrail vertical lift railroad bridge, which is near the river’s mouth at Lake Erie, northeast of Willow Bridge. This operational bridge, which fell under a Corps of Engineers bridge-replacement project in the 1940s, replaced an old, bulky swing bridge. Its span is 265 feet, and it stretches 98 feet […]

NS hostile to CP acquisition bid

U.S. railroad operator Norfolk Southern Corp all but rejected a $28.4 billion acquisition offer by Canadian Pacific Railway Ltd on Tuesday, calling it “low-premium” and warning it would face significant regulatory hurdles. While Norfolk Southern said it would carefully evaluate the offer, its sour response represents a setback to Canadian Pacific as well as its largest shareholder, […]

Canadian Pacific explores take over of NS

Canadian Pacific Railway Ltd., the second-biggest railroad in Canada, is exploring a takeover of U.S. carrier Norfolk Southern Corp. in a fresh attempt to consolidate the North American industry, according to people familiar with the matter. The shares surged on the news. Canadian Pacific is raising financing and has held early-stage merger talks with Norfolk Southern, […]

NS unveils new locomotives in Chicago

CHICAGO – Norfolk Southern joined local and state officials to dedicate a new fleet of environmentally friendly, rail yard locomotives for Chicago today at its 47th Street intermodal facility. The engines are branded “Eco” locomotives for their operating efficiencies in reducing emissions and fuel consumption. More than $19 million in grant funding through the federal […]

Class I railroads announce third quarter 2015 earnings

In a press release Oct. 14, 2015, CSX announced record financial results for the third quarter of 2015. Net earnings for the railroad came in at $507 million for the quarter, compared to the $509 million for the same period last year, which translates into a third quarter record of $0.52 per share, as compared […]

Second quarter financial results in for Class I railroads

CSX Corporation announced all-time record quarterly financial results for the second quarter of 2015. Operating income for the railroad came in at more than $1 billion for the first time in company history. The railroad also saw an all-time record in operating ratio of 68.8 percent. Net earnings came in at $553 million or an […]

STB approves NS acquisition of D&H lines

The Surface Transportation Board today approved Norfolk Southern Railway Company’s (NSR) acquisition of approximately 283 miles of rail line in Pennsylvania and New York from the Delaware & Hudson Railway Company, Inc. (D&H), subject to certain conditions. The lines at issue, known as D&H’s South Lines, consist of approximately 267 miles of the main line […]

Class I railroads release 1st quarter 2015 earnings

CSX Corporation announced increases in its first quarter earnings April 14. Net earnings for the first quarter of 2015 came in at $442 million, an 11 percent increase over the $398 million reported for the same quarter of 2014. The company announced a 13 percent increase of earnings per share to $0.45 over last year’s […]