CSX

The transaction is part of the Commonwealth’s previously announced multi-billion dollar rail transportation initiative to improve service and infrastructure in the state.

CSX Corp. revenue for the fourth quarter decreased 2 percent from the prior year to $2.83 billion. Officials noted its intermodal growth was more than offset by lower fuel surcharge revenue and coal declines.

CSX Corp. is acquiring New England’s Pan Am Railways, whose rail carrier subsidiaries comprise North America’s largest regional railroad.