OTTAWA (dpa-AFX) - Canadian National Railway (CNI) on Monday announced that it has submitted a motion to the Surface Transportation Board, asking for more information about the proposed merger between Union Pacific and Norfolk Southern.
The company highlighted several shortcomings in the initial application, such as incomplete market analyses, a lack of market share and traffic projections, an inaccurate network map, and no details on proposed competitive improvements.
CNI insists that this missing information is essential for the Board to properly assess the impact on public interest and competition, so they're calling for a more thorough and open review of the merger.
CNI is currently trading at $99.19, up $0.25 or 0.25 percent on the New York Stock Exchange.
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