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Article: Texas Railroad Commission to Oppose Union Pacific Merger.(Originated from San Antonio Express-News)
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- March 27, 1996
- Author:
CopyrightCOPYRIGHT 1996 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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AUSTIN, Texas--Mar. 27--The Texas Railroad Commission voted unanimously Tuesday to oppose the proposed Union Pacific-Southern Pacific merger, calling it a bad deal for the state that would hurt existing competition and efforts to attract new industry.
The three-member commission objects to the $5.4 billion merger unless Union Pacific agrees to sell off certain rail lines to another carrier and takes other steps to ensure competition will continue in Texas.
"My vote opposing the proposed merger was a vote against the creation of a monopoly rail system in Texas," said Commissioner Barry Williamson. "The proposed merger would be detrimental to the economic health ...