"Serious concerns": STB orders Union Pacific to release rate hike threat video
Axios · Colin Campbell ·
The railroad's merger requires the approval of the regulator, which expressed "serious concerns" about whether the railroad had influenced stakeholder input.
The federal Surface Transportation Board late Wednesday rejected Union Pacific's bid to keep private a video of CEO Jim Vena threatening rate hikes for shippers who oppose its Norfolk Southern merger.
Why it matters: The $85 billion deal requires the approval of the regulator, which expressed "serious concerns" about whether the railroad had influenced stakeholder input.