Rail customers urge regulators to block Union Pacific-Norfolk Southern deal, FT reports
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U.S. railroad customer groups are urging regulators to block or impose strict conditions on the proposed $85 billion merger between Union Pacific and Norfolk Southern. Seven shipper associations have raised concerns that the merger would enhance the merged entity's ability to raise prices and lower service standards. The deal aims to create the first coast-to-coast freight rail operator in the U.S., with a combined enterprise value of $250 billion. Critics, including Senate Democratic leader Chuck Schumer, argue it could lead to dangerous consolidation and monopoly power in the industry.
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