U.S. rail board resumes Union Pacific-Norfolk Southern $85 billion merger review

The U.S. Surface Transportation Board (U.S. rail regulator) has restarted its review of Union Pacific's proposed $85 billion merger with Norfolk Southern after finding the companies' supplemental submissions sufficient to move the case forward. The regulator emphasized that resuming the proceeding does not indicate support for the transaction, which was announced in July last year and would create the first coast-to-coast freight railroad in the United States. The board also set a schedule for public comment, ordered the railroads to refile within 10 days any workpapers that had been filtered or screened so it can examine the full dataset, and said unfiltered workpapers must be submitted by August 28. It separately denied the companies' request for an expedited proceeding tied to their proposed divestiture of control of the Terminal Railroad Association of St. Louis.

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