Senior U.S. lawmaker warns against railroad industry consolidation
Reuters | Apr 23, 2021 11:59 PM EDT
A wagon of a freight train of the Kansas City Southern (KCS) Railway Company is pictured in Toluca, Mexico (Photo : REUTERS/Edgard Garrido)
The chairman of the U.S. House of Representatives Transportation and Infrastructure Committee said on Friday the potential acquisition of the Kansas City Southern freight railroad should set off alarm bells about industry consolidation.
Representative Peter DeFazio, a Democrat, said the deal could spark a new wave of railroad mergers that stifle competition and trigger industry-wide consolidation.
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Like Us on Facebook Wall Street will make money from railroad consolidation, but the U.S. economy and workforce will be worse off for it, he said in a statement.
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