Mega Railroad Merger Clears Big Hurdle But Faces Another One (3)

A federal body announced Thursday it will officially consider the proposed takeover of Norfolk Southern Corp. by Union Pacific Corp. to form the nation’s first coast-to-coast freight rail company, but will pause proceedings while it awaits more information.

Consideration of the application will remain on hold until the railroads submit more information by July 27, according to the statement. This includes details of how the deal would enhance competition, benefit the public, affect shippers, and affect a combined company’s market share.

“The Board finds that Applicants have provided sufficient information to satisfy the completeness requirements for a major ...