Conrail sale finally wins approval

Article Abstract:

A proposal by CSX and Norfolk Southern to divide the government-created Northeastern freight railroad Conrail under a $10.2-billion joint purchase has been approved by the Surface Transportation Board. The approval covers the two lines' partition of Conrail wherein they will have to share tracks in a some areas such as Detroit, MI. The approval also included a requirement for the new owners to make monthly and weekly reports on congestion in the former Conrail yards as the board will keep the case under review for five years.

Comment:

Surface Transportation board approves proposal to divide Conrail with CSX under a $10.2-bil joint purchase

Line-Haul Railroads, Railroad Freight Operations, Railroads, Rail freight, CSX Corp., Norfolk Southern Corp., Consolidated Rail Corp.

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Railroad goliaths propose $6B merger

Article Abstract:

Burlington Northern Santa Fe and Canadian National Railways Co have agreed to merge to form North American Railways. The merger is a cashless stock swap valued at $6 billion and would create the largest railroad company in North America, serving all major West Coast ports and all of Canada's Eastern ports. The proposed merger is still subject to approval by Canadian regulators, Surface Transportation Board and companies' shareholders.

Organizational history, Burlington Northern Santa Fe Corp., Canadian National Railway Co.

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Lockheed to buy Comsat for $2.7B

Article Abstract:

Lockheed Martin Corp. will buy Comsat in a $2.7 billion deal announced recently. Lockeed officials said that the move will aid them in meeting the burgeoning demand for satelite communication services. The Federal Communications Commission (FCC) and Comsat shareholders approval are needed. Comsat owns 18% of Intelsat, which is used primarily to transmit international telephone calls.

Comment:

Will buy Comsat in a $2.7 billion deal announced recently

Satellite Communications, Satellite Telecommunications, Aircraft, Aircraft Manufacturing, Lockheed Martin Corp., Communications Satellite Corp., 3721, 484

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