Union Pacific CEO explains delay in revised merger filing

Union Pacific’s plans to submit its revised Norfolk Southern merger application slipped from March to April after federal regulators clarified how certain data must be formatted, UP Chief Executive Jim Vena said today. On Tuesday, UP (NYSE: UNP) and NS (NYSE: NSC) told the Surface Transportation Board that they would file their updated merger application on April 30. The railroads had previously hoped to submit it in March. “They said that we needed to give them some more information. Last week, through ...