Too big to merge? Union Pacific and Norfolk Southern Try Again
Can a mega merger of peers increase competition in their market?
Case in point: the proposed rail merger between Union Pacific and Norfolk Southern. Both are Class I railroads, among the largest by revenue in North America as defined by the Surface Transportation Board.
According to a 2001 Surface Transportation Board rule, their merger must enhance competition - but that's not usually how mergers are designed to work, especially among giants. And this is the first rail merger that has to meet that requirement.
After some back-and-forth, the Surface Transportation Board "conditionally"…
The skinny
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