Union Pacific and Norfolk Southern Submit Supplemental Info for Merger Application
Union Pacific (UNP) and Norfolk Southern (NSC) have submitted the first portion of their responses to the Surface Transportation Board's May 28 request for additional information to support their accepted merger application, the companies announced. "Today's filing addresses the STB's questions regarding Terminal Railroad Association of St. Louis, Kansas City Terminal Railway and TTX Company. These entities are jointly owned with other Class I railroads, operated by independent management teams and governed by non-discrimination policies. Union Pacific and Norfolk Southern do not control these companies today and remain firm in their commitment that they will not control them post-merger. The merger application and today's supplemental filing provide the STB with options to implement this commitment, up to and including divestiture. In particular, for the TRRA, the filing provides clear evidence that the other Class I railroads who are vocally opposing the merger are using the TRRA as a pawn in their efforts to stop or delay the merger. This includes failing to appear at a properly convened special meeting for the sole purpose of discussing ways to reduce Union Pacific's ownership in TRRA post-merger. Only Union Pacific and Norfolk Southern board members attended the meeting called by TRRA's corporate secretary, while members from BNSF, CSX and Canadian National did not show... Union Pacific and Norfolk Southern have consistently welcomed rigorous regulatory review of the proposed merger, and today's submission reflects that commitment. The responses to the STB's other requests for additional information will follow by July 27," the companies stated.
