CPKC, CSX And Genesee & Wyoming Reach Agreements To Create New Direct CPKC-CSX Interchange Connection In Alabama; Terms Not Disclosed
Portfolio Pulse from Benzinga Newsdesk
CPKC, CSX and Genesee & Wyoming have reached agreements to create a new direct CPKC-CSX interchange connection in Alabama. As part of the transactions, CPKC and CSX would each acquire or operate portions of Meridian & Bigbee Railroad, a G&W-owned railway in Mississippi and Alabama, to establish a new freight corridor for shippers that connects Mexico, Texas and the U.S. Southeast.
June 28, 2023 | 11:10 am
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CPKC, a subsidiary of Canadian Pacific Railway, is part of an agreement to acquire and operate portions of a railway to establish a new freight corridor. This could potentially increase CP's freight volume and revenue.
The acquisition and operation of portions of the railway could potentially increase the freight volume for CPKC, and by extension, Canadian Pacific Railway. This could lead to increased revenues and potentially a positive impact on the stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
CSX is part of an agreement to acquire and operate portions of a railway to establish a new freight corridor. This could potentially increase CSX's freight volume and revenue.
The acquisition and operation of portions of the railway could potentially increase the freight volume for CSX. This could lead to increased revenues and potentially a positive impact on the stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80