ICC OKs Sale of Southern Pacific
- Share via
Associated Press
WASHINGTON — The Interstate Commerce Commission today unanimously approved the sale of the Southern Pacific Railroad to Rio Grande Industries, creating a 15,000-mile rail system that covers 15 states from Portland, Ore., to New Orleans.
Rio Grande Industries has agreed to buy the Southern Pacific from Santa Fe Southern Pacific Corp. for $1.2 billion. The ICC in a 4-0 vote said the merger of the Southern Pacific and the Denver & Rio Grande Western railroads would have the best competitive results and be in the public interest.
Sign up for Essential California
The most important California stories and recommendations in your inbox every morning.
You may occasionally receive promotional content from the Los Angeles Times.
