Manifest Destiny? The Union Pacific-Southern Pacific Merger
John E. Kwoka, Jr.
Northeastern University - Department of Economics
Lawrence J. White
New York University (NYU) - Leonard N. Stern School of Business; Leonard N. Stern School of Business - Department of Economics
New York University, Center for Law and Business, Working Paper No. 98-012
The merger of the Union Pacific and Southern Pacific Railroads was proposed in August 1995 and received regulatory approval in July 1996. From its proposal onward, the merger has sparked considerable controversy. This paper reviews the background to the merger, the arguments that were set forth by the merger?s proponents and opponents, the eventual decision by the U.S. Surface Transportation Board, and the difficulties that have beset the merged firm since 1996.
Number of Pages in PDF File: 37
JEL Classification: L92
Date posted: July 10, 1999
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