Union Pacific and Norfolk Southern Merger Application Accepted

Union Pacific Corporation (UNP) and Norfolk Southern Corporation (NSC) "applauded" the Surface Transportation Board's decision to accept their merger application, calling it "an important step toward a reinvigorated, more competitive U.S. railroad industry." The companies acknowledged the STB's request for additional information on their amended merger application, reiterating their commitment to work constructively with the STB. "We are confident this merger will deliver more reliable and lower-cost transportation options for American businesses," said Union Pacific CEO Jim Vena. "We submitted a comprehensive, data-driven application backed by a detailed plan for seamless integration. We look forward to the opportunity to show the facts and demonstrate the benefits for our customers, employees and America." The process now moves into the merits-based review, during which the STB's procedures recognize the agency may request additional information. In fact, in a previous merger transaction for a Class I railroad, the STB paused the procedural schedule after acceptance to obtain supplemental information about the transaction before later approving the merger. Union Pacific and Norfolk Southern will continue working closely with the STB to provide the requested information and further strengthen the record. Under the governing statute, the STB has 12 months from the date it publishes its acceptance to complete its evidentiary proceedings, providing a clear and defined path forward regardless of the timing of individual steps.