- A decision on whether to clear a potential merger of Canadian Pacific Railway (NYSE:CP) and Norfolk Southern (NYSE:NSC) could take 18 months and probably would be subject to an appeal before a final decision is reached, U.S. Surface Transportation Board chairman Daniel Elliott says.
- A merger of the two railroads would be "very complex," and regulators would take under consideration the possibility that such a big merger might spark further rail industry consolidation as they determine whether or not it would be in the public's interest, Elliott says.
- The transaction would be the first major test of requirements established by the agency in 2001 mandating that deals enhance competition.