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Tuesday, November 3, 2020 | History

5 edition of The proposed CSX-ConRail merger found in the catalog.

The proposed CSX-ConRail merger

hearing before the Committee on Transportation and Infrastructure, House of Representatives, One Hundred Fourth Congress, second session, November 19, 1996.

by United States. Congress. House. Committee on Transportation and Infrastructure

  • 312 Want to read
  • 40 Currently reading

Published by U.S. G.P.O., For sale by the U.S. G.P.O., Supt. of Docs., Congressional Sales Office in Washington .
Written in English

    Places:
  • United States.,
  • Northeastern States.
    • Subjects:
    • CSX Corporation.,
    • ConRail.,
    • Railroads -- Mergers -- United States.,
    • Transportation -- Mergers -- United States.,
    • Railroads -- Freight -- Northeastern States.

    • Edition Notes

      Other titlesProposed CSX ConRail merger
      Classifications
      LC ClassificationsKF27 .P896 1996a
      The Physical Object
      Paginationiii, 81 p. ;
      Number of Pages81
      ID Numbers
      Open LibraryOL762446M
      ISBN 10016054159X
      LC Control Number97159654
      OCLC/WorldCa36542906


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The proposed CSX-ConRail merger by United States. Congress. House. Committee on Transportation and Infrastructure Download PDF EPUB FB2

Proposed CSX-Conrail Merger. Views Program ID: Category: Senate Committee Format: Senate Committee Location: The Life of Cornelius Vanderbilt, published by Basic Books. In his book. The Proposed CSX-ConRail Merger: Hearing Before the Committee on Transportation and Infrastructure, House of Representatives, One Hundred Fourth Congress, Second Session, Novem - Ebook written by United States.

Congress. House. Committee on Transportation and Infrastructure. Read this book using Google Play Books app on your PC, android, iOS devices. THE PROPOSED CSX-CONRAIL MERGER TUESDAY, NOVEM House of Representatives, Committee on Transportation and Infrastructure, Washington, DC.

The committee met, pursuant to call, at 10 a.m., in roomRayburn House Office Building, Hon. Bud Shuster (chairman of the committee) presiding. he committee will come to order. Get this from a library. The proposed CSX-ConRail merger: hearing before the Committee on Transportation and Infrastructure, House of Representatives, One Hundred Fourth Congress, second session, Novem [United States.

Congress. House. Committee on Transportation and Infrastructure.]. Committee members heard testimony from government officials concerning the impact of a proposed CSX buyout of Conrail, which would create the third largest freight rail line in the U.S.

They. Conrail Merger Documents Collection Number: Kheel Center for Labor-Management Documentation and Archives, Cornell University Library.

DESCRIPTIVE SUMMARY. "Proposed Conrail Acquisition" Draft Environmental Impact Statement Executive Summary. Box Folder 17 "Proposed Conrail Acquisition" Draft Environmental Impact Statement.

Ma Proposed CSX-Conrail Merger. The subcommittee heard testimony from northeastern governors, CSX officials and others concerning the equal division of. Proposed CSX-Conrail Merger The subcommittee heard testimony from northeastern governors, CSX officials and others concerning the equal division of See all programs.

The approved merger plan restructured Conrail into a Switching and Terminal Railroad operating about 1, miles of track in three regional areas. On June 1,Conrail began operating as a Switching and Terminal Railroad for its owners, NS and CSX, in the three geographical areas of Northern New Jersey, Southern New Jersey/Philadelphia, and.

The CSX-Conrail merger would create a 29,mile rail network that would dominate the eastern half of the United States, giving the combined company the largest revenues of.

Even as it sweetened its bid for Conrail, CSX identified a new round of financial benefits that would result from the proposed merger -- $ million in synergies and cost savings, $ million. It has offered nearly $10 billion to buy Conrail, hoping to knock out the proposed $ billion friendly merger between CSX and the Consolidated Rail Corporation.

CSX, Conrail to merge Octo a.m. ET A merger of Conrail and CSX falls within an industry pattern of consolidation that came to prominence with Union Pacific's $ billion. Conrail (reporting mark CR), formally the Consolidated Rail Corporation, was the primary Class I railroad in the Northeastern United States between and The trade name Conrail is a portmanteau based on the company's legal name, and while it no longer operates trains, it continues to do business as an asset management and network services provider in three Shared Assets Areas that.

Book Condition: Publisher: Greenwood Press Date of Publication: Binding: hardcover Edition: Condition: Good/No Jacket Description: 6 1/2" x 9 1/2" Pages clean; binding tight; minor wear to covers; lacks a dustjacket.

pages. Illustrated. A history of merger incompetence. s: 4. CSX-Conrail merger will lower company’s cost-structure by creating increasing economies of scale. Operating ratio of Conrail is % and CSX’s operating ratio is % (Exhibit 1).

According to American Investment research report (Exhibit 10), proposed merger will bring operating ratio to 65 % (an % decrease). persuade stockholders of the merger's benefits and will schedule. a new vote, perhaps within a month.

"Norfolk Southern has succeeded only in confusing the issue," Snow said in a statement. "The CSX-Conrail merger remains the. right merger, of the right companies, at the right price and, in.

This potential weakness could result in a concern about the management synergies of the deal. Following the merger announcement of $bn of CSX-Conrail inthe third largest railroad company in the Eastern region, Norfolk proposed a hostile offer of $bn for Conrail.

The concerns of a potential. The Acquisition of Consolidated Rail Corp. (A) (HBS Case ) In midPennsylvania-based Consolidated Rail Corp. (Conrail), the third largest railroad in the Eastern United States, was approached with a merger offer from Virginia-based CSX Corp., the largest railroad.

The Acquisition of Conrail Corporation 1. Bankruptcy and Corporate ReorganizationAlfio Shkreta2 June 2. Case summary CSX has put forth a two-tier merger agreement to acquire Conrail The front-end offer for 40% of the shares is $ The back end offer is an exchange offer with a ratio of shares of CSX for 1 share of Conrail Conrail is also a potential a target of Norfolk Southern.

more than $3, billions - but also a merger market with unprecedented breadth, across geographies and industries. M&A transactions in the current merger cycle differ in significant ways from those of the s, and this probably explains why so much value has recently been created. Specifically, this current merger boom is characterized by.

Burns & McDonnell was selected by Norfolk Southern (NS) to conduct various environmental studies related to its proposed joint acquisition, with CSX, of Conrail.

The multivolume environmental report was submitted to and accepted by the U.S. Department of Transportation’s (USDOT) Surface Transportation Board (STB), the federal regulatory.

Another important point in CSX-Conrail merger is the better competitive position in both long-haul and short-haul routes through cost reduction. The last reason for buying the Conrail was the fear of CSX Company to lose competitive advantage and as a result to lose a lot of revenue, if Conrail merge with show more content.

Executive Summary Conrail has received two acquisition bids from CSX and Norfolk Southern. Introduction Conrail and CSX, the nation’s first and third largest railroads, have decided to participate in a merger of equals.

CSX has offered to acquire Conrail in a two tiered deal. The first 40% of tendered Conrail shares will be bought at a price of $while the remaining 60% will be acquired.

Introduction Conrail and CSX, the nation’s first and third largest railroads, have decided to participate in a merger of equals. CSX has offered to acquire Conrail in a two tiered deal. The first 40% of tendered Conrail shares will be bought at a price of $ while the remaining 60% will be acquired through a stock swap at a ratio of 1.

Question 1.b) I believe that the proposed synergies are reasonable when compared with similar previous mergers in the railroad industry (calculations are attached hereto as Exhibit 2). In terms of the projected merger synergies the CSX-Conrail merger should originate million dollars in the year and thereafter they should grow at the.

Conrail Case Study 1. Why does CSX want to buy Conrail. Why can CSX justify paying a 2. Why would the Surface Transportation Board (STB) likely approve the merger (i.e., why might the STB not be too concerned about the impact the merger will have on competition in the northeast).

A break-up fee of $ million charged to Conrail. This guarantees that CSX will not lose the money they used to pay for the deal’s fees while compensating the Company for their time spent and reputation involved with the deal. This demotes Conrail to consider other bidders or to decline the merger in such a late stage of the deal process.

The Norfolk Southern Corporation failed to thwart a giant railroad merger between its rival, the CSX Corporation, and Conrail yesterday, when a Federal judge in. ''But it's not a rejection of the CSX-Conrail merger; it's a rejection of the merger at this price and under these conditions.

Yet it was a vote to keep the game alive and that's good for Norfolk. The proposed CSX-Conrail combination raised the possibility. that Jacksonville could lose CSX's rail headquarters to any of.

several cities that would bid for it. Local CSX officials would. not comment yesterday on Norfolk Southern's bid, and city. officials were on. Conrail Inc. shareholders on Friday derailed a planned $billion railroad merger with CSX Corp. with a thumping rejection of a key provision to let the deal proceed.

The beta of assumed for the CSX-Conrail combined company is a weighted average of the pre-merger betas of Conrail and CSX (Exhibit 8). Thus, are assuming that the proposed synergies have the same riskiness as the new firm’s stock. These synergies are marginal cash flows that will accrue to the stockholders, so a reasonable assumption.

Also in terms of projected synergies as a percent of the Target´s Operating Expenses I believe that the projection of the CSX-Conrail merger is reasonable as its value is lower than its comparables – % compared to % (Santa Fe Pacific), % (Chicago and North Western) and % (Southern Pacific).

CSX buys Conrail Octo p.m. ET Companies will cont miles of track from Miami to Boston From Correspondent Rhonda Schaffler. This is a list of proposed state mergers, including both current and historical proposals originating from sovereign states or entities listed below differ from separatist movements in that they would form as a merger or union of two or more existing states, territories, colonies or other regions, becoming either a federation, confederation or other type of unified sovereign.

Conrail Inc. on Wednesday revised its takeover agreement with CSX Corp. to give shareholders more cash in the proposed railroad merger valued at nearly $ billion. COVID Announcement Conrail is closely monitoring the spread of COVID and has taken preventative measures to ensure the safety of our employees, their families, and the customers we serve on behalf of CSX and Norfolk Southern.

After a merger, large parts of the New York-New Jersey industrial area would be opened to a free-for-all in which Norfolk Southern, CSX and probably other, smaller railroads would be allowed to.

Each control o miles of track. The news pushed CSX stock down four percent in early trading on the New York Stock Exchange, but lifted Conrail by 20 percent. The merger will depend on approval from Conrail shareholders, who would receive $ in cash and CSX stock for each share, and the U.S. Surface Transportation Board.

The companies said the proposed merger would create the largest transportation company in the world, with an estimated $14 billion in annual revenue, 52, employees miles of rail.The proposed CSX-ConRail merger: hearing before the Committee on Transportation and Infrastructure, House of Representatives, One Hundred Fourth Congress, second session, Novem by United States (Book).

Investors embraced the proposed agreement, driving shares of Conrail up $ yesterday on the New York Stock Exchange to close at $, less than the .