OMAHA — Union Pacific Corporation (NYSE: UNP) and Norfolk Southern Corporation (NYSE: NSC) today applauded the Surface Transportation Board (STB)’s decision to accept their merger application, calling it an important step toward a reinvigorated, more competitive U.S. railroad industry. The companies acknowledged the STB’s request for additional information on their amended merger application, reiterating their commitment to work constructively with the STB.
“We are confident this merger will deliver more reliable and lower-cost transportation options for American businesses,” said Union Pacific CEO Jim Vena. “We submitted a comprehensive, data-driven application backed by a detailed plan for seamless integration. We look forward to the opportunity to show the facts and demonstrate the benefits for our customers, employees and America.”
“The time is right for a more competitive U.S. rail network that reduces costs for American shippers and consumers,” said Norfolk Southern President and CEO Mark George. “The added detail strengthened our analysis and enhanced integration planning in our amended application. We have more confidence than ever in the value this proposal will deliver for all stakeholders and look forward to a full and transparent review.”…