UP-NS merger application faces STB pushback from rivals

Four rival Class I railroads say the UP-NS merger application should not advance at the Surface Transportation Board because, in their view, the filing is incomplete — as previously covered by Railway Supply.

BNSF Railway, Canadian Pacific Kansas City (CPKC), CN and CSX told the Surface Transportation Board (STB) on Dec. 29 that Union Pacific Railroad and Norfolk Southern Railway did not submit all the data and supporting materials the board expects, as reported by Progressive Railroading.

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UP and NS filed their application on Dec. 19, 2025, and the STB then asked for public input on whether the filing, as submitted, is complete, as outlined in the board’s UP-NS merger resources.

STB review focuses on application completeness

UP and NS have since filed a response to the rivals’ objections, alongside comments from the National Grain and Feed Association. The question is whether the board should reject the filing at this stage based on claims that the UP Norfolk Southern merger application incomplete issue is sufficient for the STB to do so.

Rival Class I railroads outline missing data and documents

The four competitors maintain that the application does not include enough information for the STB to evaluate the proposal. BNSF officials wrote that, as submitted, the filing fails to establish that the transaction meets the public-interest standard on the merits and therefore cannot be approved by the board. BNSF also said the application only superficially grapples with what it described as serious issues the proposed merger could create for shippers, American businesses, the rail industry and the American economy.

CPKC said the STB should reject the filing because UP and NS failed to provide essential data underpinning their truck diversion analysis, failed to include a key portion of the UP-NS merger agreement, and, for various reasons, failed to comply with the 2001 merger rules.

CN raised similar concerns, saying the filing fails to include complete market analyses and provides an incomplete network map by omitting overlapping lines in the watershed area. CN also said the merger agreement is incomplete because appendices, schedules and disclosures were omitted, and argued the application fails to explain how the merger would strengthen competition.

CSX said the application lacks important information on issues such as control of other railroads. CSX also argued the filing fails to identify and analyze downstream effects, fails to calculate net public benefits, and fails to provide evidence for how the merger would enhance competition.

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