Transportation: Page 468

States Race To Deepen U.S. Ports, Anticipating Panama Canal Boom

At least four ports in Florida, Georgia and Texas have decided to foot the bill to deepen federal waterways, a total of almost half a billion dollars, rather than wait years for funds.

This project involves dredging as needed within the existing 40-foot Delaware River federal navigation channel to deepen it to 45 feet from Philadelphia Harbor, Pa. and Beckett Street Terminal, Camden, N.J. along a 102.5-mile distance to deep water in the Delaware Bay.

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Kroger Co. to Acquire Roundy’s Inc. For $800 Million

Roundy's brings to Kroger an expanded footprint with a complementary base of 151 stores and 101 pharmacies in new geographies including Milwaukee, Madison and Northern Wisconsin, which are served under the Pick 'n Save, Copps and Metro Market banners.

The Kroger Co. and Roundy's, Inc. announced a definitive merger agreement under which Kroger will purchase all outstanding shares of Roundy's for $3.60 per share in cash, estimated at around $800 million.

Congress Considers Lowering Truck Driving Age To Under 21

In the coming weeks, House and Senate negotiators will be hashing out their differences on federal trucking policy, grappling with everything from driver drug testing to ways of dividing grant dollars.

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Molson Coors Brewing Co. Nears $12 Billion Deal

AB InBev needed to find a buyer for SABMiller’s MillerCoors stake before moving forward with a final offer so that it could improve its odds of winning regulatory approval in the U.S., where it has a 45 percent market share and MillerCoors has 25 percent.

Molson Coors Brewing Co. is nearing a deal to buy the rest of the MillerCoors LLC U.S. joint venture in a $12 billion deal that would pave the way for SABMiller PLC to cement its blockbuster sale to Anheuser-Busch InBev NV.

Deliv Acquires Zipments To Grow Same-Day Delivery Service

The company recently launched in New York City, and by acquiring Zipments, Deliv can tap into the NYC-based startup’s driver network and its customer relationships, including startups Casper, Handy and Plated.

Headquartered in Menlo Park, Calif., Deliv works with to offer delivery through a network of independent contractors.

Rail & Intermodal

Canadian Pacific Railway Seeking To Acquire CSX Corp.?

Canadian Pacific Kansas City (CPKC)

A move for Norfolk Southern, the second-biggest railroad in the eastern U.S., would revive Canadian Pacific’s effort to build a transcontinental carrier after talks with CSX Corp. failed last year.

Canadian Pacific Railway Ltd., the second-biggest railroad in Canada, is exploring a takeover of U.S. carrier Norfolk Southern Corp. in a fresh attempt to consolidate the North American industry.

European Union Okays Coca-Cola Enterprises Merger Plans To Create World’s Largest Independent Bottler

Coca-Cola Company

The combination with Coca-Cola Iberian Partners (CCIP) and the German bottling business of Coca-Cola would create the world's largest independent bottler of Coke drinks by net revenue, present in Spain, France and Britain and 10 other countries.

Muhtar Kent, Chairman and Chief Executive Officer, The Coca-Cola Company, Sol Daurella, Executive Chairwoman of Coca-Cola Iberian Partners and John Brock, Chairman and Chief Executive Officer of Coca-Cola Enterprises, Inc. toast the creation of Coca-Cola European Partners.

Tampa, Fla. Produce Firm To Build Warehouse In Cuba

Tampa-based Florida Produce of Hillsborough County Inc. has been granted a license, which permits the firm to open a warehouse facility in Cuba.

The Florida Produce facility is expected to store food, drinking water, liquor, telecommunications equipment, building equipment, restaurant equipment and agricultural equipment. It will also serve as a physical location, which will enable the direct transfer of title and goods once paid, as permitted under the newly expanded guidelines.

CMA CGM SA Offers To Acquire Neptune Orient, Southeast Asia’s Container Shipper

Neptune Orient, which helped cement Singapore’s status as a global trade hub, is attracting takeover interest after simplifying its structure this year by selling its $1.2 billion logistics unit.

CMA CGM has made a preliminary offer for Neptune Orient and is conducting due diligence, though it hasn’t been granted exclusivity, while discussions with Maersk are less advanced, people with knowledge of the matter said before Neptune Orient’s announcement.

House Approves $325 Billion For Transportation

The House approved the bill that calls for spending $261 billion on highways and $55 billion on transit over six years. The legislation authorizes highway funding for six years, but only if Congress can come up with a way to pay for the final three years.

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House Kills Amendment To Raise Truck Weight Limits

The amendment would have given states the option to raise the federal gross vehicle weight limit from 80,000 pounds to 91,000 pounds for trucks equipped with six axles rather than the typical five, but the amendment failed Nov. 3.

The amendment would have given states the option to raise the federal gross vehicle weight limit from 80,000 pounds to 91,000 pounds for trucks equipped with six axles rather than the typical five, but the amendment failed Nov. 3, said Ken Barbic, senior director of federal government affairs for Western Growers.

Maersk Line To Slash 4,000 Jobs In Response To Market Outlook

A.P. Moller- Maersk

Over the next two years, Maersk Line expects to lower the annual sales, general and administration (SG&A) cost run-rate by $250 million with an impact of $150 million in 2016.

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