WASHINGTON (Reuters) -Senate Democratic Leader Chuck Schumer criticized Union Pacific’s plan to acquire Norfolk Southern in a $85 billion deal to create the first U.S. coast-to-coast freight rail operator.
Schumer said Thursday the deal would push “us even further down the road of dangerous consolidation and monopoly power… This is a hostile takeover of America’s infrastructure.”
He added “decades of railroad mergers have led to worse service, worse safety, worse working conditions, higher costs for shippers – which ultimately means higher prices for consumers.”
(Reporting by David Shepardson)
Comments