This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
4/30/2026
The application for the Union Pacific Railroad-Norfolk Southern Railway merger is back on the clock at the Surface Transportation Board (STB).
Today, the Class Is submitted an amended application to the board seeking to merge through an $85 billion transaction. The STB now has 30 days to review and act on it.
The initial application submitted on Dec. 19, 2025, was rejected by the board on Jan. 16, 2026, since it was deemed incomplete. Comments on the completeness of the revised application are due by May 8.
Additional analysis performed during the application revision process reinforces that the proposed transcontinental railroad would drive growth, create substantial cost savings for shippers and strengthen the U.S. supply chain, UP and NS officials said in a press release.
The analysis is the first in rail merger history to use 100% actual traffic data provided by all Class Is at the time — in this case all six — instead of sample data available from the STB, making it the most thorough assessment of market and operational impacts from a merger, they said.
“After completing the additional work requested by the STB, the facts remain clear: This merger enhances competition and delivers real public benefits that make America’s supply chain stronger,” said UP CEO Jim Vena.
The deeper analysis finds the merger will make rail significantly more competitive with long-haul trucking, diverting about 2.1 million trucks off highways, according to the Class Is. Shifting freight from higher-cost trucks to lower-cost rail will save shippers about $3.5 billion annually, they estimate.
“This merger is fundamentally about growth. Shippers have been clear about what they value, and the data backs it up,” said NS President and CEO Mark George. “When single-line rail service is available, they choose it.”
In the amended application, the railroads commit to divest or otherwise relinquish control of the Terminal Railroad Association of St. Louis (TRRA), a short line that operates 170 miles of track. UP owns 42.84% and NS owns 14.29% of TRRA. The Class Is initially requested a temporary controlling interest in TRRA to provide time to sell enough shares to prevent UP from retaining a controlling interest in the short line post-merger.
“We are confident our updated application meets the STB’s guidance and presents an even stronger case for why America needs a seamless coast-to-coast railroad to reinvigorate the rail industry,” said Vena.
Meanwhile, a coalition of competing Class Is, shippers, labor unions and other rail industry stakeholders has just formed to oppose the merger.
The Stop the Rail Merger Coalition includes the American Chemistry Council, American Farm Bureau Federation, Teamsters Rail Conference, BNSF Railway, CPKC, Alliance for Chemical Distribution, National Industrial Transportation League and Vinyl Institute.
The coalition has released a new national poll conducted this month by McLaughlin & Associates that finds nearly 71% of Americans oppose the merger after learning about its impacts; 68% believe the merged railroad would keep promised cost savings for itself instead of passing them onto businesses or consumers; and 54% say they are more likely to support a candidate who opposes the merger.
“This did not begin with a customer asking for a UP-NS merger to happen,” said BNSF President and CEO Katie Farmer in the coalition’s press release. “It’s driven by Wall Street on the promise of a big shareholder payout. It will eliminate competition, raise costs for consumers and destabilize the supply chain that powers the American economy.”