Aug 18 (Reuters) – The U.S. Surface Transportation Board on Tuesday said it has resumed consideration of Union Pacific’s proposed merger with Norfolk Southern, while stressing that the move does not signal approval of the $85-billion deal.
• The board removed the proceeding from abeyance after determining that supplemental information submitted by the railroads was sufficient to resume the review process.
• The deal, announced in July last year, would create the first coast-to-coast freight railroad in the United States.
• The decision lays out a timeline for public comments on the proposed merger, giving stakeholders and regulators time to review its potential impact.
• STB’s decision also directs the companies to refile, within 10 days, any workpapers that had been filtered or screened, allowing the board to review the full dataset.
• The board denied the companies’ request for an expedited proceeding related to their proposed divestiture of control of the Terminal Railroad Association of St. Louis, and said unfiltered workpapers must be filed by August 28.
(Reporting by Megavarshini G. Somasundaram in Bengaluru; Editing by Leroy Leo)
