Union Pacific and Norfolk Southern have submitted the first round of additional information requested by the Surface Transportation Board (STB) as part of the Union Pacific Norfolk Southern merger review.

Union Pacific-led intermodal freight train in a mountain corridor
Official image of a Union Pacific-led intermodal freight train. Photo: Union Pacific and Norfolk Southern / The Great Connection Media Kit

The submission follows ⁠questions issued by the STB on 28 May 2026, after the board accepted the two railways’ merger application for formal consideration.

STB review focuses on jointly owned rail entities

This round focuses on the ownership and governance of three jointly owned rail entities: the Terminal Railroad Association of St. Louis (TRRA), Kansas City Terminal Railway (KCT) and TTX Company.

In the filing, ⁠Union Pacific and Norfolk Southern said these entities are jointly owned by multiple Class I railroads, operate independently and follow non-discrimination rules. The companies stated that they do not currently control the organisations and said they would maintain that position if the merger is approved. The filing says possible measures could include changes to ownership arrangements or, if required, divestiture.

On TRRA, the two railways said discussions had previously been planned to consider reducing Union Pacific’s ownership after the proposed transaction. Those discussions did not take place because representatives of other shareholder railroads were absent from a specially convened meeting. According to the companies, only board members representing Union Pacific and Norfolk Southern attended, while representatives from BNSF Railway, CSX and Canadian National Railway did not participate.

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Union Pacific Norfolk Southern merger faces objections

Union Pacific and Norfolk Southern say combining their networks would create the first single-line transcontinental freight railway in the US. They argue this would allow freight to move across the country without being exchanged between rail operators.

The companies also say the transaction could encourage a shift of freight from road to rail. They estimate that this would reduce shipping costs by approximately 3.5 billion USD per year.

The merger application has also drawn broad opposition. An industry coalition called “Stop the Merger” says the proposed merger could lead to higher transport costs, weaker service competition and greater risks for supply chains and employment.

The regulatory review concerns a proposed combination that the STB describes as mostly “end-to-end”, because the existing Union Pacific and Norfolk Southern systems overlap only in Missouri and Illinois. If approved, the transaction would combine the two companies into a single rail system known as Union Pacific, with about 50,000 miles of track across 43 US states, including lines operated under trackage rights.

Union Pacific and Norfolk Southern are due to answer the STB’s remaining requests for additional information by 27 July 2026.

The companies are still targeting completion of the transaction in mid-2027, subject to regulatory approval.

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