January 19, 2017 / 5:10 PM / in a year

Union Pacific CEO- "we are opposed to" major railroad mergers

DETROIT, Jan 19 (Reuters) - The top executive at Union Pacific Corp said on Thursday that the No. 1 U.S. railroad remains opposed to mergers between major railroads in the United States.

Speaking after news that former Canadian Pacific Hunter Harrison was in advanced talks to team up with a former Pershing Square Capital partner in a bid to shake up rival railroad CSX Corp led to speculation that Harrison would renew past efforts to consolidate the U.S. rail industry, Union Pacific CEO Lance Fritz told Reuters that “we still think Class 1 mergers in the United States are not a good idea.” (Reporting By Nick Carey; Editing by Chizu Nomiyama)

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