Closer Look at BNSF-CN Merger Urged

January 26, 2000 1:16 PM, EST

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.

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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.

“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.

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).

For the full story, see the Jan. 24 print edition of Transport Topics. Subscribe today.