ICC PROPOSES SCHEDULE FOR CONSIDERATION OF DEAL

ICC PROPOSES SCHEDULE FOR CONSIDERATION OF DEAL

The Interstate Commerce Commission has tentatively set a 195-day schedule for consideration of the proposed $5.4 billion merger between Union Pacific Railroad and Southern Pacific Lines that could bring a final decision in the case during the late summer of 1996.

The schedule would begin when the companies submit their application, now targeted for Dec. 1.The schedule proposed Friday is identical to one put forward by the carriers last month.

The agency's schedule shows 30 days to consider whether to accept the application, with opponents and other commenters having 60 days beyond that date to prepare information declaring opposition or specific conditions requested.

A voting conference would be scheduled 156 days after the application is accepted and one day after oral argument of the case.

Comments on the schedule plan will be accepted until Sept. 18.

The agency also issued an order allowing the two companies to discuss confidential commercial information needed to prepare the application.