Gov. Henry McMaster Announces Support for Railroad Merger

Momentum continues to build for the proposed Union Pacific-Norfolk Southern combination (NYSE: NSC), with South Carolina Gov. Henry McMaster voicing his support in a recent letter to the Surface Transportation Board.

In the letter, McMaster highlighted South Carolina's position as a leading manufacturing, logistics, and trade hub and emphasized the importance of a strong and efficient freight transportation network to support the state's continued economic growth.

"I write in support of the proposed combination of Union Pacific and Norfolk Southern and to share my perspective on what this transaction could mean for the State of South Carolina," McMaster wrote. "Over the last several decades, South Carolina has become a premier destination for investment in part because of the transportation networks necessary to allow businesses to compete and grow. As our state continues to grow, dependable transportation options are essential to moving raw materials and finished products, reducing congestion, improving safety, and supporting environmental stewardship. Expanding the role of rail can help advance each of these goals."

McMaster continued, "I believe the proposed combination of Union Pacific and Norfolk Southern presents meaningful opportunities to reinforce South Carolina's position as a national leader in commerce and trade."

McMaster's letter adds to the growing list of more than 2,000 stakeholders who see the benefits the transaction will deliver to customers and communities throughout the country. In South Carolina alone, approximately 40 state and local leaders have voiced their support for a transcontinental rail network,