UBS analyst Thomas Wadewitz says the Surface Transportation Board issued a decision late Friday rejecting the Union Pacific (UNP), Norfolk Southern (NSC) merger application due to three key areas of insufficient information. The deficiencies appear straightforward to address, the analyst tells investors in a research note. UBS estimates the deal review process could be delayed up to three months. However, the additional information could be used by opponents of the deal, adds the firm.
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