Regulators reject initial filing for coast-to-coast rail merger
Regulators reject initial filing for coast-to-coast rail merger
The Surface Transportation Board has unanimously decided to reject Union Pacific and Norfolk Southern's initial application for a proposed merger, after finding the submission to be incomplete.
The board on Friday said the two companies' merger proposal lacked information necessary for it to consider their plan to create the nation's first coast-to-coast railroad company. Still, UP and NS are allowed revise and resubmit their application, which could commence a new review from the board in the f
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