CSX to acquire New England’s regional railway
The Florida-based US class I railway has signed a definitive agreement to acquire New England’s Pan Am Railways, whose rail carrier subsidiaries comprise North America’s largest regional railroad.
Headquartered in Massachusetts, Pan Am owns and operates a highly integrated, nearly 1,930 km rail network and has a partial interest in the more than 970 km Pan Am Southern system.
Pan Am’s network across New England has access to multiple ports and large-scale commodity producers. The transaction will expand CSX’s reach in Connecticut, New York and Massachusetts while adding Vermont, New Hampshire and Maine to its existing 23 state network. Terms of the transaction were not disclosed and the transaction has to be officially approved. (ben)