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Seven GOP Attorneys General are again urging federal regulators to reject the Union Pacific–Norfolk Southern rail merger. The post Mega rail deal under fire: 7 State AGs warn UP-NS merger could drive up shipping costs appeared first on FreightWaves.
Union Pacific, CSX and Norfolk Southern stand out as railroad picks despite fuel costs, tariffs and economic uncertainty.
Headwinds, including high fuel costs, tariff-related tensions, and lingering supply-chain disruptions, hurt the Zacks Transportation -Railroad industry. UNP, CSX and NSC are likely to stand out.
The merger filing of Union Pacific and Norfolk Southern still lacks information for proper federal review, say shippers’ trade groups. The post Rail merger a failure on first sight, shippers protest appeared first on FreightWaves.
The delivery giant is posting impressive sales growth, but a tangle of new expenses has investors hitting the brakes.
Union Pacific CEO Jim Vena stated the company can afford its $85 billion Norfolk Southern merger without federal investment. The post UP CEO says no thanks to potential government investment in $85B merger appeared first on FreightWaves.
Opponents of a controversial transcontinental rail merger hailed the House transportation appropriations committee’s backing of a ‘rigorous’ review of the deal by federal regulators. The post House endorses 25-year old rules for rail merger review appeared first on FreightWaves.
Class A shares of Berkshire Hathaway, owner of BNSF Railway, reversed earlier gains on Thursday after a federal regulator pushed pause on its review of the blockbuster merger between Union Pacific and Norfolk Southern. BNSF, which competes with Union Pacific in the Western U.S., has previously said that the proposed merger will "concentrate too much control of the nation's freight market with one railroad leading to long-term harm to competition and resilience in the nation's supply chain." "BNSF remains firmly opposed to the proposed UP–NS merger," the Berkshire-owned railroad said in a statement on Thursday.
(Updates with Union Pacific and Norfolk Southern comments in the second and third paragraphs and sto
The federal Surface Transportation Board is seeking more information on the impact of combining Union Pacific and Norfolk Southern.
Shares of freight railroads Union Pacific and Norfolk Southern dropped sharply Thursday, after a federal regulator paused the review process for their merger, stating it needed more details to evaluate the transaction. Union Pacific fell 3.5%, and Norfolk Southern is down 5%. While the Surface Transportation Board said it accepted the revised merger application that the two railroads filed in April, it froze the review and will establish another schedule for the remainder of the process.
The federal Surface Transportation Board is seeking more information on the impact of combining Union Pacific and Norfolk Southern.
A group of Attorneys General are again urging federal regulators to reject the application for the Union Pacific-Norfolk Southern transcontinental rail merger. The post Attorney Generals urge STB to reject new rail merger application appeared first on FreightWaves.
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