Union Pacific Asks Appeals Court to Review Merger Decision Between Canadian Pacific and Kansas City Southern

Union Pacific is asking a federal court of appeals to review the decision by the Surface Transportation Board to approve the merger between Canadian Pacific and Kansas City Southern.

UP had expressed concerns during STB hearings on the merger that the board needed to impose conditions upon CP and KCS that would ensure competition at interchanges.

“The merger of Kansas City Southern and Canadian Pacific is likely to reduce competition and negatively impact shippers and stakeholders,” UP (NYSE: UNP) told FreightWaves in a statement on why it petitioned the U.S. Court of Appeals for the District of Columbia Circuit on Wednesday. “In approving the merger, the Surface Transportation Board acknowledged these concerns, but did not adopt solutions to remedy the harms.”

Read the source article at finance.yahoo.com