Rail regulator says Union Pacific, Norfolk Southern merger filing incomplete
9 Articles
9 Articles
Rail regulator says Union Pacific, Norfolk Southern merger filing incomplete
NEW YORK — The Surface Transportation Board has sent back Union Pacific’s proposed $85 billion buyout of Norfolk Southern for revision, saying it lacked required information, as part of a review in which the U.S. transport regulator will define what…
Feds Reject Railroad Mega Merger That Could Have Threatened Wyoming Coal
Union Pacific and Norfolk Southern's bid to create the largest rail merger in history was rejected last week by federal regulators. The decision gives breathing room to competitors who warned the deal would raise costs for Wyoming coal producers.
STB rejects UP bid to buy NS for now
Union Pacific Corp.’s bid to buy Norfolk Southern Corp. suffered a setback Friday, Jan. 16, when the Surface Transportation Board said it was insufficient. In a document posted to the STB’s website Friday afternoon, the agency said Union Pacific’s application to acquire Norfolk Southern was rejected, but it could be revised and refiled. The STB said UP should notify it by Feb. 17 if it plans to refile.
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