Trump floated the idea of a 15% government stake in a massive railroad merger

President Donald Trump recently expressed interest in the federal government acquiring a 15% stake in a massive railroad merger—remarks that took on new resonance this week when a federal regulator put the $71.5 billion merger of Union Pacific and Norfolk Southern on pause for additional review.

There’s no clear connection between the president’s comments, in a conversation with Fortune, and the delay, announced by the regulatory body, the U.S. Surface Transportation Board (STB), on May 28. A pause is not unexpected for such a huge acquisition.

At the same time, Trump’s second term has been marked by unprecedented federal investments in publicly traded companies—from Intel to rare earths miners and refiners—all in i...