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The CEO of freight rail operator CSX is focused on generating returns from improved efficiency and performance — but he’s also open to merger prospects as industry rivals consolidate.

The gauge — which contains industry stalwarts such as CSX, FedEx and Old Dominion Freight Line  — has been catapulted higher by strong data and a pivot away from the big tech winners of the last few years. 

The competitive landscape in the railroad business could change drastically in the next few years if Union Pacific's proposed $85 billion acquisition of Norfolk Southern is approved. 

STG and 64 affiliates filed for court protection with the U.S. Bankruptcy Court for the District of New Jersey. The company expects to exit court protection in around five months’ time.

CEO Steve Angel, without promising a merger, said he would consider any opportunities that make sense for shareholders. He vowed to focus on making CSX the best-performing railroad.

CSX named Steve Angel as its new CEO as the railroad faces pressure from an activist investor and rising competitive challenges.

CSX is working with Goldman Sachs Group, people familiar with the matter said, as the company explores options to participate in rail consolidation after two major rivals announced a merger.

At a time when the industry is bracing for further consolidation, Ancora believes that CSX under CEO Joseph Hinrichs has been “underperforming.”

Workers have achieved the 47% completion mark to lower the historic Howard Street Tunnel by 2 feet to allow double-stacked rail containers to travel to and from the Port of Baltimore.

CSX railroad’s profit fell 27% in the first quarter as two major construction projects contributed to a decline in shipments.