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Union Pacific argues for its $85B acquisition of Norfolk Southern in new railroad merger application
Union Pacific says the deal would cut interchange delays and save shippers $3.5 billion a year, while opponents warn it would reduce competition.
- On Thursday, Union Pacific and Norfolk Southern submitted a new $85 billion merger application to the Surface Transportation Board, proposing the country's first transcontinental railroad.
- The Surface Transportation Board declined the initial application, requesting additional information about how the merger would affect competitive balance in the rail industry.
- Supporters argue the deal would create a seamless network from the East Coast to the West Coast, modernizing freight transportation while reducing shipping costs and transportation times.
- SMART-TD President Jeremy Ferguson backs the deal for job protection, while BNSF Railway Katie Farmer warned it 'will eliminate competition, raise costs for consumers, and destabilize the supply chain.'
- The STB must determine whether the deal serves the public interest, while President Donald Trump has endorsed the merger, stating it 'sounds good to me.
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47 Articles
+8 Reposted by 8 other sources
Union Pacific, Norfolk Southern submit new merger application
(The Center Square) – Union Pacific and Norfolk Southern on Thursday submitted a new merger application to the U.S. Surface Transportation Board that would create the country's first transcontinental railroad.
+16 Reposted by 16 other sources
Union Pacific argues for its $85B acquisition of Norfolk Southern in new railroad merger application
Union Pacific hopes a new application will be enough to persuade regulators that its $85 billion acquisition of Norfolk Southern would be good for the country. The U.S.
·United States
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Total News Sources47
Leaning Left6Leaning Right11Center17Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 18%
C 50%
R 32%
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