CSX to purchase Pan Am Railways

Federal regulators have approved CSX’s purchase of Pan Am Railways, a regional railroad based in North Billerica, that will expand CSX’s network in New England.

The U.S. Surface Transportation Board said the deal that was first announced in late 2020 can now be completed. Terms of the deal have not been released.

The deal will expand CSX’s 23-state network into Vermont, New Hampshire and Maine, while adding to its reach in New York, Connecticut and Massachusetts. CSX will also acquire Pan Am’s partial ownership of a 600mile joint venture with Norfolk Southern railroad called Pan Am Southern.

Regulators said the deal should improve Pan Am’s rail network because CSX has more capital to invest in the tracks, and customers will benefit from being able to ship their goods across the region on a single railroad.