CSX to File New Merger Plan

CSX plans to file a new application with the U.S. Surface Transportation Board by April 26 pertaining to its planned acquisition of New England regional carrier Pan Am Railways.

It acted after regulators ruled last week that the transaction should be considered a “significant” deal, not the “minor” transaction designation that CSX had sought.

In ruling that the acquisition was a significant transaction, the STB directed CSX to submit a new schedule and merger application.

Under the new schedule, comments on the deal would be due by July 9, final briefs would be due Sept. 30 and the STB would issue its decision on Dec. 29.

A favorable STB ruling would mean the transaction would become effective on Jan. 28, 2022.

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