WASHINGTON — While Union Pacific and Norfolk Southern prepare to file a revised merger application in late April, federal regulators are requesting specific data related to their proposal to create the first U.S. transcontinental railroad. The request for documents to be submitted prior to the revised application likely could include highly sensitive data related to […]
WASHINGTON — A Union Pacific-Norfolk Southern merger would reduce shipping options for farmers and make them more vulnerable to price increases, economists for the American Farm Bureau said in an analysis released today (Wednesday, March 11). The long-term effect of the merger could be increased consumer prices for food as expenses rise throughout the food […]
OMAHA, Neb. — In “The Tempest,” Shakespeare wrote, “what’s past is prologue,” meaning history sets the context for the present and dictates future events. Except, apparently, when it comes to transcontinental railroads. In an exclusive interview with Firecrown Media news site FreightWaves, Union Pacific CEO Jim Vena fired back at critics of his company’s blockbuster merger […]
Trains Turntable: Commentary from CPKC CEO Keith Creel Over the last several months, the Class I railroads not named Union Pacific or Norfolk Southern have been accused of opposing the largest, most unnecessary proposed rail merger ever attempted because those railroads are afraid to compete or are selfishly afraid it will hurt their business. Those […]
LINCOLN, Neb. — Legislation designed to provide tax incentives to keep Union Pacific’s headquarters in Omaha faced no opposition during a hearing in the Nebraska Legislature on Wednesday, Feb. 25. While Legislative Bill 1165 does not mention UP, its sponsor, state Sen. Brad von Gillern (R-Elkhorn), told the Revenue Committee hearing that it’s no secret […]
MIAMI — Canadian Pacific Kansas City CEO Keith Creel says the Surface Transportation Board’s rejection of the initial Union Pacific-Norfolk Southern merger application shows the $85 billion transaction is not a done deal. “I’m not drinking the merger Kool-Aid that this thing’s going to get approved. It may or it may not,” Creel told an […]
MIAMI BEACH, Fla. — Union Pacific’s plans to submit its revised Norfolk Southern merger application slipped from March to April after federal regulators clarified how certain data must be formatted, UP CEO Jim Vena says. On Tuesday, UP and NS told the Surface Transportation Board that they would file their updated merger application on April […]
WASHINGTON — Union Pacific and Norfolk Southern will submit their revised merger application on April 30, the railroads informed the Surface Transportation Board today. The STB on Jan. 16 rejected the original 6,692-page application as incomplete. The railroads initially expected to file the revised application as early as March. Regulators pointed out that their decision […]
WASHINGTON — Top legal officials in seven Republican states are asking the U.S. Department of Justice to scrutinize the proposed Union Pacific-Norfolk Southern merger. The group of state attorneys general led by Montana’s Austin Knudsen claim that the east-west consolidation will stifle competition and increase costs for Americans. The coalition in a letter asks Acting […]
WASHINGTON — Republican members of Congress today urged the Surface Transportation Board to conduct a thorough review of the proposed merger of Union Pacific and Norfolk Southern — and to reject the deal if it does not meet the high standards set by the board’s merger rules set in 2001. Rep. Dusty Johnson of South […]
MONTREAL — Union Pacific and Norfolk Southern have “a long way to go” to address issues with their merger application, Canadian National CEO Tracy Robinson said during the company’s quarterly earnings call today (Friday, Jan. 30). “It is not at all clear that the transaction as proposed addresses many of the questions around the negative […]
OMAHA, Neb. — Union Pacific expects to file its revised Norfolk Southern merger application in March, CEO Jim Vena said on the railroad’s earnings call on Tuesday. The Surface Transportation Board on Jan. 16 rejected the railroads’ 6,692-page merger application as incomplete. The application, filed on Dec. 19, didn’t include enough information on post-merger market […]
