Canadian National Railway reached an agreement to acquire Winnipeg-based The TransX Group of Companies, one of the largest and oldest transport companies in Canada. Under the transaction, TransX will continue to be based in Winnipeg and will operate independently.
CN did not disclose the terms of the acquisition which is subject to regulatory review by Competition Bureau Canada and Canada’s Ministry of Transportation.
“This strategic acquisition allows CN to deepen its supply chain focus, strengthening our exceptional franchise, including our intermodal business, notably the specialized, fast-growing refrigerated segment,” said JJ Ruest, CEO of CN said.
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