US railroad Union Pacific Corp believes major railroad mergers are not in the interest of the rail industry or customers and is working behind the scenes to make sure none take place, the company’s top executive said on Wednesday.
“We don’t want Class I railroad mergers to happen,” chief executive Lance Fritz told Reuters when asked about Canadian Pacific’s unsolicited bid for U.S. railroad Norfolk Southern Corp. “We’ll do everything in our power to make them not happen.”
Fritz, who was in the Chicago suburb of Lombard to address a meeting of the Midwest Association of Rail Shippers, said Union Pacific has been talking to state and federal legislators across its network, its customers and regulators including the Surface Transportation Board about why mergers would be bad for business.
“I think we’re doing a fair job of helping them understand our perspective,” Fritz said. “I think (the chance of a merger happening is) slim because I want it to be slim and we’re working hard to make it slim.”
Full content: The Globe And Mail
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Judge Appoints Law Firms to Lead Consumer Antitrust Litigation Against Apple
Dec 22, 2024 by
CPI
Epic Health Systems Seeks Dismissal of Antitrust Suit Filed by Particle Health
Dec 22, 2024 by
CPI
Qualcomm Secures Partial Victory in Licensing Dispute with Arm, Jury Splits on Key Issues
Dec 22, 2024 by
CPI
Google Proposes Revised Revenue-Sharing Limits Amid Antitrust Battle
Dec 22, 2024 by
CPI
Japan’s Antitrust Authority Expected to Sanction Google Over Monopoly Practices
Dec 22, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – CRESSE Insights
Dec 19, 2024 by
CPI
Effective Interoperability in Mobile Ecosystems: EU Competition Law Versus Regulation
Dec 19, 2024 by
Giuseppe Colangelo
The Use of Empirical Evidence in Antitrust: Trends, Challenges, and a Path Forward
Dec 19, 2024 by
Eliana Garces
Some Empirical Evidence on the Role of Presumptions and Evidentiary Standards on Antitrust (Under)Enforcement: Is the EC’s New Communication on Art.102 in the Right Direction?
Dec 19, 2024 by
Yannis Katsoulacos
The EC’s Draft Guidelines on the Application of Article 102 TFEU: An Economic Perspective
Dec 19, 2024 by
Benoit Durand