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Bloomberg News reported that CSX is working with Goldman Sachs in order to explore possible strategic options.

Bloomberg News reported Thursday that railroad operator CSX was working with Goldman Sachs in order to explore possible strategic options after a merger of its two main rivals. The report was based on people who were familiar with the situation.

Union Pacific announced on Tuesday that it will buy the smaller rival Norfolk Southern for $85 billion. This deal will create the United States' first coast-to-coast rail freight operator, and transform the movement of goods across the nation from grains to automobiles.

reported

Last week, CSX announced that it was in discussions to hire financial advisors.

CSX CEO Joe Hirichs stated on a call following the company's earnings last week that "we welcome any opportunity to provide value for our investors, drive progrowth and better serve our customers."

Goldman Sachs didn't immediately respond to an inquiry for comment. CSX declined comment. (Reporting and editing by Tasim D'Silva and Anil D'Silva in Bengaluru)

(source: Reuters)