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CSX

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CSX CEO Joe Hinrichs told CNBC's Jim Cramer on Wednesday that working with other railroad companies is the best way to solve problems in the industry and grow value.

"We'll open all possibilities to create value for shareholders, properly grow the business and serve our customers better," he said. "We can do all of those by working with other railroads."

Wall Street has had eyes on the railroad sector in recent months as Union Pacific announced plans to buy competitor Norfolk Southern . Earlier this month, activist investor Ancora urged CSX to pursue near-term merger options or remove Hinrichs from his position, warning that the merger between Union Pacific and Norfolk Southern woul

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