Overview

• Warren Buffett told CNBC that Berkshire Hathaway is not seeking another railroad and would not bid for CSX.
• CSX shares fell more than 6% after the report was published during midday trading.
• BNSF and CSX announced new direct domestic intermodal lanes linking Southern California with Charlotte and Jacksonville, plus a Phoenix–Atlanta service.
• The companies also detailed new international intermodal links connecting the Port of New York and New Jersey and Norfolk, Virginia, with Kansas City, Missouri.
• The proposed $85 billion Union Pacific–Norfolk Southern merger remains under Surface Transportation Board review and could control about 46% of rail intermodal traffic, while activist Ancora urges CSX to explore merger options.