Union Pacific chief hails GE-Wabtec railroad deal

Union Pacific’s chief executive, Lance Fritz, has praised an $11bn deal that will see General Electric’s railroad business merge with Wabtec. Not only is UP North America’s largest railroader, it is also one of GE’s major customers. The Wall Street Journal reports Mr Fritz as describing the deal as a “good thing”, noting that it’s “important” that GE continued to participate in the market.

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