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Farmer was also skeptical of the growth projections UP and NS included in their merger application.
UP and NS project 12% volume growth in three years post-merger, despite past declines.
KEY POINTS
- UP's open gateway proposal would apply to only 0.4% of all rail freight shipments.
- UP's open gateways exclude hazardous materials, unit trains, and intermodal shippers.
- STB's 2001 merger rules require mergers to enhance competition specifically for existing rail customers.
COMPANIES
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