BNSF Railway Co. slammed the proposed mega-merger between two key rivals as benefitting shareholders at the expense of customers, marking some of the most direct criticism of a deal drawing scrutiny from lawmakers and across the industry.
The $72 billion combination of Union Pacific Corp. and Norfolk Southern Corp. doesn’t propose adding new capacity to the network and won’t create fresh investment, said Zak Anderson, chief of staff and a vice president at BNSF. The North American rail industry is already concentrated heavily among just a handful of companies, raising additional questions over competition, he said.
“This a straight ...
