by johnpbarlow
Interesting excerpt from G&W's recent Q317 earnings conference call with financial analysts:
...just sort of continuing with that theme, CSX's CEO, Mr. Hunter Harrison, had recently mentioned that he is potentially looking at selling some of CSX's operations in Canada including two terminals and a rail line in Montreal. Is this something that GWR would be interested in and would this fit with the new investment strategy?And here is the vague reply from G&W exec John Hellman:
Well, with respect to any specific opportunities that emerge such as the one you identified, we generally don't comment on any specific potential investments or acquisitions until there's actually a transaction to talk about. You can always assume that if – particularly for a company that has a significant presence in Canada like we do, that we evaluate – it's rare that there's ever an opportunity that emerges that we don't take a careful look at it and determine whether or not it's a good fit for us.FWIW, G&W also mentioned elsewhere that cash flow is strong and they're in the market for acquiring any RR's spun-off track...
So I wouldn't comment on the specifics, but to the extent that there is any short line opportunities or spin-offs or the like, you can always assume that our business development team is taking a careful look at it. And so I think I'll just leave it at that.
