Norfolk Southern increased its bid for Conrail.
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In an attempt to revive its proposed purchase of Conrail, Norfolk Southern Corp. increased its bid for the government-owned railroad system to $1.9 billion, as suggested by Transportation Secretary Elizabeth Hanford Dole. But the sweetened offer quickly was characterized by Rep. John Dingell (D-Mich.), who has blocked consideration of the sale in Congress, as “a joke” and the product of “creative arithmetic.” He said: “As far as I’m concerned, the notion of selling Conrail to Norfolk Southern is dead.”
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