Wave of rail mergers ‘inevitable’ if takeover bid approved, says CPKC chief exec

The head of Canadian Pacific Kansas City Ltd. says a proposed rail merger in the United States would set off a wave of acquisitions that reduces competition, raises consumer costs and generates freight logjams.On Wednesday, CPKC chief executive Keith Creel told conference goers in New York City that Union Pacific Corp.‘s newly fleshed-out application to a U.S. regulator still fails to address key concerns around competition.The US$85-billion deal would marry Union Pacific’s vast rail network in the Western U.S. with Norfolk Southern’s rails in the east, creating America’s first transcontinental railway and accounting for nearly 50 per cent of its freight traffic.

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