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Senior U.S. lawmaker warns in opposition to railroad {industry} consolidation By Reuters 


© Reuters. FILE PHOTO: FILE PHOTO: A wagon of a freight prepare of KCS Railway Firm is pictured in Toluca


WASHINGTON (Reuters) – The chairman of the U.S. Home Transportation and Infrastructure Committee stated on Friday the potential acquisition of Kansas Metropolis Southern (NYSE:) railroad ought to set off “alarm bells” about {industry} consolidation.

Consultant Peter DeFazio, a Democrat, stated the deal may spark a “new wave of railroad mergers that stifle competitors and set off industry-wide consolidation.”

He warned “Wall Avenue will earn a living from railroad consolidation, however the U.S. economic system and workforce will probably be worse off for it.”

Each Canadian Nationwide and Canadian Pacific (NYSE:) have provided to purchase Kansas Metropolis Southern.

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