Norfolk Southern and Union Pacific submitted the first portion of their responses to the Surface Transportation Board's request for supplemental information tied to their accepted merger application. The same day, Reuters reported that the railroads were willing to divest ownership stakes in smaller railroads as part of the proposed $85 billion deal. The filing keeps regulatory scrutiny firmly in view, including shipper concerns about rates and competition. Separately, on June 1, Norfolk Southern appointed Brian Barr as Chief Operating Officer.
Norfolk Southern CorporationSTB merger review and potential divestiture conditions create regulatory uncertainty.
Union Pacific CorporationSTB merger review and potential divestiture conditions create regulatory uncertainty.