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28 BILLION #RAIL DEAL FACES HURDLES

Canadian Pacific Railway Ltd.’s offer to buy Norfolk Southern Corp. for about $28 billion would create a rail network stretching across most of North America.  But the hurdle could be satisfying the U.S. Surface Transportation Board’s rules on mergers. The rules require future merger applicants “to bear a heavier burden to show that a major rail combination is consistent with the public interest” by enhancing competition.

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