A PYMNTS Company

US: Union Pacific will do all in its power to stop rail mergers

By  |  January 13, 2016

US railroad Union Pacific Corp believes major railroad mergers are not in the interest of the rail industry or customers and is working behind the scenes to make sure none take place, the company’s top executive said on Wednesday.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    “We don’t want Class I railroad mergers to happen,” chief executive Lance Fritz told Reuters when asked about Canadian Pacific’s unsolicited bid for U.S. railroad Norfolk Southern Corp. “We’ll do everything in our power to make them not happen.”

    Fritz, who was in the Chicago suburb of Lombard to address a meeting of the Midwest Association of Rail Shippers, said Union Pacific has been talking to state and federal legislators across its network, its customers and regulators including the Surface Transportation Board about why mergers would be bad for business.

    “I think we’re doing a fair job of helping them understand our perspective,” Fritz said. “I think (the chance of a merger happening is) slim because I want it to be slim and we’re working hard to make it slim.”

    Full content: The Globe And Mail

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.