Reported 28 days ago
U.S. railroad customer groups are urging regulators to prevent the merger between Union Pacific and Norfolk Southern, citing concerns over potential price increases and reduced service standards. Seven shipping associations have expressed their worries about the merger’s impact on competition and service quality. Union Pacific plans to proceed with the $85 billion deal, aimed at creating the first coast-to-coast freight rail operator, despite opposition from labor unions and political figures who warn of monopolistic practices and job threats.
Source: YAHOO