Union Pacific and Norfolk Southern have submitted the first round of supplemental information requested by the Surface Transportation Board (STB) in support of their proposed merger.
The filing responds to questions issued by the STB on 28 May 2026 after the regulator accepted the companies’ merger application for review.
The latest submission 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.
Union Pacific and Norfolk Southern stated that these organisations are jointly owned by several Class I railroads, managed independently and operate under non-discrimination policies. The companies said they do not currently control the organisations and committed to maintaining that position if the merger is approved. According to the filing, potential measures to achieve this include changes to ownership arrangements or, if required, divestiture.
Specifically addressing the TRRA, the railways stated that discussions were previously planned to consider reducing Union Pacific’s ownership following the proposed merger. However, they did not proceed because representatives from other shareholder railroads did not attend a specially convened meeting. The companies said only board members representing Union Pacific and Norfolk Southern were present, while representatives from BNSF Railway, CSX and Canadian National Railway did not attend.
Union Pacific and Norfolk Southern argue that combining their networks would create the first single-line transcontinental freight railway in the US, allowing freight to move across the country without interchange between rail operators. The companies say the merger could encourage a shift of freight from road to rail and estimate that this would reduce shipping costs by approximately 3.5 billion USD annually.
However, the merger application has also received widespread objections. An industry coalition named “Stop the Merger” argues that the proposed merger could lead to higher transport costs, reduced service competition and increased risks to supply chains and employment.
The companies will submit responses to the STB’s remaining requests for additional information by 27 July 2026.
Union Pacific and Norfolk Southern continue to target completion of the transaction in mid-2027, subject to regulatory approval.
