Union Pacific Norfolk Southern merger remains under STB review
09.07.2026
The Union Pacific Norfolk Southern merger filing moved forward after both companies submitted the first part of their responses to the Surface Transportation Board.

Union Pacific Corporation (NYSE: UNP) and Norfolk Southern Corporation (NYSE: NSC) filed the material after the regulator requested additional information on May 28, 2026 to support their accepted merger application.
Union Pacific Norfolk Southern merger response covers STB questions
The filing responds to STB questions concerning the Terminal Railroad Association of St. Louis, Kansas City Terminal Railway and TTX Company. Union Pacific and Norfolk Southern said these organizations are jointly owned with other Class I railroads, managed independently and governed by non-discrimination policies.
The companies stated that they do not control TRRA, KCT or TTX today and remain committed to not controlling them after the proposed merger. According to the filing, the merger application and the supplemental response give the STB several options to implement that commitment, including divestiture.
For TRRA, the companies said the filing presents evidence that other Class I railroads opposing the merger are using the organization in an effort to stop or delay the transaction. They cited a special meeting convened for the sole purpose of discussing ways to reduce Union Pacific’s ownership in TRRA after the merger.
Only Union Pacific and Norfolk Southern board members attended the meeting called by TRRA’s corporate secretary, the companies said. Members from BNSF, CSX and Canadian National did not attend.
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Single-line transcontinental rail service remains central
Union Pacific and Norfolk Southern said linking their end-to-end networks would give American shippers access to single-line transcontinental rail service. They said the proposed network would provide a stronger alternative to long-haul trucking, make the entire supply chain more competitive and put downward pressure on truck and rail prices.
The companies also said the merger could support a shift of freight from truck to rail and projected that shippers could save an estimated $3.5 billion annually.
Remaining supplemental information is due in July
Union Pacific and Norfolk Southern said they have consistently welcomed rigorous regulatory review of the proposed merger and described the latest submission as part of that commitment. Responses to the STB’s remaining supplemental information request are expected by July 27, 2026.
The STB’s May 28 decision did more than accept the revised UP-NS application for consideration. The Board also held the proceeding in abeyance, including the environmental review, pending supplemental information from the applicants. The agency said several parts of the revised application were unclear or underdeveloped and required more detail so it could evaluate whether the transaction is in the public interest. That makes the latest filing part of the regulatory record-building process, not a final decision on the proposed merger.
The STB accepted the Union Pacific-Norfolk Southern merger application as complete on May 28. The companies described that decision as a positive step toward creating what they call America’s first transcontinental railroad and said they are working constructively with the STB toward a possible completion in mid-2027. They directed readers seeking more information to AmericasGreatConnection.com.
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