Canadian Pacific Urges Scrutiny of Union Pacific-Norfolk Southern $71.5 Billion Merger Bid
Updated
Updated · MarketWatch · May 11
Canadian Pacific Urges Scrutiny of Union Pacific-Norfolk Southern $71.5 Billion Merger Bid
15 articles · Updated · MarketWatch · May 11
Canadian Pacific Kansas City said a refiled Union Pacific-Norfolk Southern merger deserves close regulatory and shipper scrutiny, escalating opposition to the proposed rail tie-up.
Keith Creel said the combination could put nearly half of U.S. freight rail traffic under one company, raising concentration risks across the industry.
Union Pacific and Norfolk Southern recently resubmitted their $71.5 billion application to the Surface Transportation Board for a coast-to-coast railroad.
Creel said he expects a rigorous board review if the filing is accepted and urged shippers and other stakeholders to participate fully in the process.
Could one coast-to-coast railroad solve America's supply chain woes or instead create a catastrophic bottleneck?
Will this rail merger's promise of 1,200 new jobs defy the historical trend of post-merger layoffs?