ASLRRA UP-NS merger review heads to STB for scrutiny

ASLRRA UP-NS merger review is moving forward as the American Short Line and Regional Railroad Association (ASLRRA) formally notifies the Surface Transportation Board (STB) that it intends to participate in the agency’s examination of the forthcoming Union Pacific–Norfolk Southern (UP–NS) merger application, as first reported by Railway Age. The application will ask federal regulators to authorize the two Class I railroads to combine their networks under common ownership and create a U.S. transcontinental operation.

This is reported by the railway transport news portal Railway Supply.

Short line priorities in the ASLRRA UP-NS merger review

In its Nov. 19 announcement, ASLRRA characterized the planned Union Pacific–Norfolk Southern merger as a major consolidation transaction of significant interest to short line and regional railroads across the country. The Association stressed that its members, both individually and through coordinated work with ASLRRA, are already assessing how the deal could either support or undermine smaller carriers and the shippers that depend on them.

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ASLRRA says its participation in the Surface Transportation Board review will center on making sure the merger proposal, whether as filed or as it might later be conditioned by the Board, fully reflects potential impacts on short lines and their customers while advancing several concrete objectives. Among these, the Association pointed to:

• short line carload traffic growth and improved interchange efficiencies between Class I railroads and short lines;

• preservation of frequent, reliable railroad service after the transaction closes; and

• protection and promotion of competition across the overall network.

ASLRRA President Chuck Baker said that the organization will engage constructively in the STB proceedings on behalf of its members, with the aim of strengthening competition, improving customer service and expanding rail volume across the U.S. freight rail network by building on “win-win” partnerships between Class I carriers and short line operators. The broader implications of the UP-NS merger for competition and network structure have already been examined in depth by Railway Supply, which places the ASLRRA UP-NS merger review in a wider industry context.

STB docket FD 36873 and UP-NS merger timeline

This summer, UP and NS submitted a notice of intent to the STB stating that they plan to file their formal merger application on or before Jan. 29, 2026. Once the paperwork is lodged with the regulator, the Union Pacific–Norfolk Southern merger application will move forward under STB docket FD 36873, forming part of the broader ASLRRA UP-NS merger review process.

The companies have already secured shareholder approval of the UP-NS merger. At special meetings held on Nov. 14, investors in both Union Pacific and Norfolk Southern voted overwhelmingly in favor of the transaction, with in-favor margins reported as approaching 100%, according to Norfolk Southern. UP and NS have said the merger is projected to close by early 2027, subject to Surface Transportation Board review and approval within its statutory timeline, as well as the usual closing conditions that apply to a transaction of this scale.

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