by Shortline614
Makes me wonder who's bid landed second.
Barbecuing in Chessie's backyard. Host of "Shortline's Rail News & Comment."
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F74265A wrote: ↑Fri Feb 05, 2021 10:14 am As I cautioned at the start, until a deal is closed there is no final deal.But CSX has said:
bostontrainguy wrote: ↑Fri Feb 05, 2021 11:45 am Does that not indicate that a deal was closed?Have you purchased a house? They signed the P&S agreement, but not the closing docs. Those don't get signed before regulatory approval.
I thought we were just waiting for the STB part.
Backshophoss wrote: ↑Fri Feb 05, 2021 1:01 pm With the change of admin in DC there might be a minor delay at STB,still think there's a "poison pill" that's making the "hedge fund goons" BALK.I think there may be merit in that. They had all last fall going for rides in the OCS all over the system with reportedly different players and they must have worked out a deal for CSX to make that announcement at the end off Nov. Someone may have balked at the deal. I still think the main sticking point is how do you deal with PAS and any kind of agreement about shared access for traffic coming out of Maine. Could NS have thrown some kind of roadblock by backing out of any previous deal that was made. In their last quarterly statements they went out of their way to stress to the stockholders that they were concentrating on "right sizing" the railroad. Seems that they are still in the slash and burn policy of PSR. Maybe they want no part of PAS now.
bostontrainguy wrote: ↑Fri Feb 05, 2021 11:45 am Does that not indicate that a deal was closed?In corporate transactions there is customarily a delay between signing the definitive contract and closing in order for conditions of the contract to be met, including regulatory approval. Occasionally deals close on signing if no regulatory approval is required. Closing occurs when buyer actually pays the purchase price and seller delivers title to the property
I thought we were just waiting for the STB part.
Gilbert B Norman wrote: ↑Fri Feb 05, 2021 7:44 am There are all kind of factors that could derail a deal such as this, but I could never have imagined that one of such is that the "Commonwealth of Tax..." is prepared to seize the B&A from Chessie for some kind of passenger train initiative.Mr. Norman, it can't be assumed that it would be a seizure or that CSX would not want to do nor benefit from an infrastructure deal.