News / CSX makes 'third time lucky' bid for Pan Am Railways takeover approval

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CSX is hoping its third attempt to clear regulatory hurdles for its planned acquisition of Pan Am Railways will get the green light.

The US Surface Transportation Board (STB) deemed its previous applications incomplete and requested more details to address questions of competitiveness.

CSX and Pan Am agreed the takeover at the end of November and CSX submitted a formal application for approval to the STB in February, requesting the acquisition be treated as a “minor” transaction, which would entail a less ...