WASHINGTON, July 31 (Reuters) - Senate Democratic Leader Chuck Schumer criticized Union Pacific's UNP.N plan to acquire Norfolk Southern NSC.N in a $85 billion deal to create the first U.S. coast-to-coast freight rail operator.
Schumer said Thursday the deal would push "us even further down the road of dangerous consolidation and monopoly power... This is a hostile takeover of America’s infrastructure."
He added "decades of railroad mergers have led to worse service, worse safety, worse working conditions, higher costs for shippers – which ultimately means higher prices for consumers."
(Reporting by David Shepardson)
((David.Shepardson@thomsonreuters.com; 2028988324;))
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