CPKC statement on UP-NS merger flags risks in STB review

CPKC statement on UP-NS merger follows the merger application that Union Pacific and Norfolk Southern filed with the Surface Transportation Board on Dec. 19, 2025. In its release, the railway said it has only just obtained the lengthy submission and expects to review it over the coming days.

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

CPKC said it will examine the UP-NS merger application filing from at least two angles. One is whether the application complies with the Board’s 2001 Major Merger Rules and gives the STB and interested parties a sufficient basis to evaluate the public interest consequences of the proposal. The other is whether the UP-NS proposal is consistent with the public interest.

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CPKC statement on UP-NS merger and the STB acceptance decision

The company noted that the first step in the STB merger review requires the Board to decide by Jan. 18, 2026 whether to accept the application for consideration or reject it as incomplete, as outlined in the Surface Transportation Board’s UP-NS Merger Resources.

CPKC added that if the STB accepts the filing, the public interest review process would involve a broad and novel range of concerns. It also stressed that approval of the merger is not inevitable.

Public interest review, competition, and customer impacts

In the statement, CPKC described the proposed UP-NS merger as unprecedented in scale and scope and said it would radically and permanently change the U.S. rail network if approved. The company said it believes the transaction would pose extraordinary and far-reaching risks to customers, rail employees, and broader supply chains.

CPKC said it expects the STB to conduct a vigorous process assessing both short- and long-term public interest impacts, including effects on the competition rail customers have today—an issue also discussed in recent Railway Supply coverage. The railway also pointed to potential concerns stakeholders may want to raise, including new limitations on rail shipping options, new risks of rate pressures, and new risks to service quality.

Stakeholder comments and CPKC’s role in the process

CPKC said it intends to remain an active participant in the proceeding. It encouraged shippers, receivers, associations, governments, and other stakeholders to closely examine the application and file their own comments with the STB.

The company urged stakeholders to describe how the proposed merger could affect their business, including impacts tied to shipping choices, pricing pressure, and service performance. CPKC said it anticipates submitting comments to the STB in line with the procedural schedule the Board adopts for the case.

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