Regulators find Norfolk Southern merger proposal ‘incomplete’
AJC.com • • business
Key Points:
- The Surface Transportation Board (STB) unanimously rejected the merger application between Union Pacific and Norfolk Southern, deeming the $85 billion deal "incomplete" due to missing information.
- The proposed merger would create the first transcontinental railroad company headquartered in Nebraska, combining two major U.S. freight railroads.
- The STB requested additional data and new projections from the companies, including a more comprehensive analysis of market impacts and competition effects.
- The companies must refile their application with the required information by February 17, after which the STB will review the expanded submission.
- The board emphasized the importance of thorough review to assess potential risks such as reduced competition, service disruptions, and market power concentration before approving the merger
