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Article: CSX/CONRAIL MERGER: NORFOLK SOUTHERN WILL ACT, BUT HOW? ANALYSTS THINK IT COULD TRY TO BUY CONRAIL, SPURRING A BIDDING WAR.(BUSINESS)
- Article from:
- The Virginian-Pilot (Norfolk, VA)
- Article date:
- October 16, 1996
- Author:
CopyrightCOPYRIGHT 1996 The Virginian Pilot-Ledger Star. All rights reserved. Reproduced with the permission of the Dialog Corporation by Gale Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: CHRISTOPHER DINSMORE, STAFF WRITER
``We do not rule out any options.''
That's how Norfolk Southern Corp. responded to the news Tuesday of CSX Corp.'s proposed $8.4 billion merger with Conrail Inc.
``Norfolk Southern will act responsibly and aggressively to protect the interests of the shipping public, our shareholders and employees, and the communities we serve,'' the railroad said in a statement.
Norfolk Southern left no doubt that it would act, but the question is: How?
Rail stock analysts speculate that Norfolk Southern could try to buy Conrail, prompting a costly bidding war. Norfolk Southern also could try to ...