CN said it continues to review Union Pacific and Norfolk Southern’s amended merger application submitted to the Surface Transportation Board and will remain actively engaged in this process.
Gov. Jim Pillen joined Nebraska business leaders Thursday in throwing more support behind the proposed marriage of Omaha-based Union Pacific and Atlanta-based Norfolk Southern as the railroads filed an amended merger application with federal regulators.
Union Pacific and Norfolk Southern are back at the Surface Transportation Board with an amended merger application, again pitching their tie-up as the deal that will create America’s first “transcontinental” railroad — and insisting the revised filing is even more airtight than the first.
The Surface Transportation Board on Friday unanimously rejected the major merger application filed by Union Pacific and Norfolk Southern, finding the submission incomplete under federal regulations.
Union Pacific Corp. said it met with customers at the Midwest Association of Rail Shippers’ winter meeting to discuss the proposed merger with Norfolk Southern and respond to criticism of the transaction.
CN has filed a motion with the Surface Transportation Board to compel additional information in relation to the proposed merger agreement between Union Pacific and Norfolk Southern.
CN said the application that Union Pacific and Norfolk Southern filed with the STB on Friday “fails to demonstrate that the merger would enhance competition or generate significant public benefits that would require a merger.”
BNSF President & CEO Katie Farmer said that while the company is reviewing the STB filing submitted by Union Pacific and Norfolk Southern on Friday, it will have more to say.