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The Union Pacific/Southern Pacific Rail Merger: A Retrospective on Merger Benefits

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Author Info
Denis A. Breen () (Bureau of Economics, Federal Trade Commission)
Abstract

This retrospective case study of merger efficiencies focuses on the 1996 merger of two large, U.S. rail networks. Information on the public record permits some evaluation of pre-merger efficiency claims, and the weighing of those claims against regulatory and antitrust standards. Access to additional public and non-public information also permits at least a preliminary determination that a number of the claimed efficiencies were plausibly merger-specific and actually realized post-merger. This is contrary to skepticism expressed about merger efficiency claims, both generally and with respect to this particular rail merger, and thereby illustrates the value of doing retrospective studies of merger outcomes.

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Publisher Info
Article provided by Concept Economics in its journal Review of Network Economics.

Volume (Year): 3 (2004)
Issue (Month): 3 (September)
Pages: 283-322
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:rne:rneart:v:3:y:2004:i:3:p:283-322

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Web page: http://www.rnejournal.com

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Related research
Keywords: Mergers; Efficiencies; Railroads; Union Pacific; Southern Pacific;

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Pittman, Russell W, 1990. "Railroads and Competition: The Santa Fe/Southern Pacific Merger Proposal," Journal of Industrial Economics, Blackwell Publishing, vol. 39(1), pages 25-46, September. [Downloadable!] (restricted)
  2. Karikari, John Agyei & Brown, Stephen M & Nadji, Mehrzad, 2002. "The Union Pacific/Southern Pacific Railroads Merger: Effect of Trackage Rights on Rates," Journal of Regulatory Economics, Springer, vol. 22(3), pages 271-85, November. [Downloadable!] (restricted)
  3. Ellig, Jerry, 2002. "Railroad Deregulation and Consumer Welfare," Journal of Regulatory Economics, Springer, vol. 21(2), pages 143-67, March. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Ivaldi, Marc & McCullough, Gerard, 2005. "Welfare Trade-Offs in US Rail Mergers," CEPR Discussion Papers 5000, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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