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US Antitrust Chief Concerned About CP Rail-Norfolk Proposed Trust
2016-03-10 17:51:01| Railroads - Topix.net
The head of the Justice Department's antitrust division said he's concerned about the proposed voting trust structure Canadian Pacific Railway wants to use to acquire Norfolk Southern Corp. Bill Baer said at a Senate antitrust oversight hearing March 9 that the Justice Department will submit comments to the U.S. Surface Transportation Board, which has been asked to issue an order confirming the validity of the mechanism. FedEx Corp. has told U.S. rail regulators that it is against Canadian Pacific Railway's proposed merger with Norfolk Southern Corp., adding to a long list of shippers opposing the deal.
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Category:Transportation and Logistics