Closer Look at BNSF-CN Merger Urged
The chairman of the House Committee on Transportation and Infrastructure and its ranking Democratic member are urging the Surface Transportation Board to “proceed cautiously” in reviewing a proposal to merge Burlington Northern Santa Fe Corp. and Canadian National Railway Co.
In a letter to STB Chairman Linda Morgan, Rep. Bud Shuster (R-Pa.) and Rep. James L. Oberstar (D-Minn.) applauded the board’s intention to examine the effects of the proposed transaction.
On Dec. 20, the two railroads announced plans to create the biggest railroad in North America with a stock market valuation in excess of $19 billion (12-27, p.1).
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“We urge you to promptly explore all options to ensure an early and vigorous debate on whether those effects are in the public interest,” wrote the two committee members.
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For the full story, see the Jan. 24 print edition of Transport Topics. Subscribe today.
