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The regulator rejected motions to dismiss the $85 billion merger application, but new board member Richard Kloster said the railroads still have “a long way to go” to prove the deal serves the public interest.
Trade associations representing chemical and fertilizer shippers, among others, say the merger could negatively impact competition.
CSX (NasdaqGS:CSX) plans to seek broad access rights if the proposed Union Pacific and Norfolk Southern transcontinental merger proceeds. The freight carrier intends to request entry to pivotal corridors and shared terminals that could be controlled by the combined rail operator. CSX has raised competition concerns, arguing that the merger could reshape freight flows across the North American rail network. The plan to pursue merger contingent access deals only captures part of the CSX story...
More than 100 House Democrats urged the Surface Transportation Board to prioritize rail jobs in its review of the proposed Union Pacific-Norfolk Southern merger. The post 102 Dems to STB: Put labor first in UP-NS rail merger review appeared first on FreightWaves.
Regulatory moves put the Union Pacific merger in focus The Surface Transportation Board has extended the deadline for stakeholders to signal whether they will participate in the review of the proposed Union Pacific (UNP) merger with Norfolk Southern. Investors are assessing what this extra time could mean. Union Pacific’s share price has slipped about 6.7% over the past week but remains supported by a 90 day share price return of 9.8% and a year to date share price return of 24.9%, while the...
On July 27, Union Pacific Corporation (NYSE:UNP) and Norfolk Southern Corporation (NYSE:NSC) enhanced their joint merger application with expanded customer protections sent to the Surface Transportation Board (STB). Seeking to create the first single-line transcontinental network, the rails offered terms going beyond prior Class I combinations. They proposed doubling Committed Gateway Pricing eligibility to preserve […]
Union Pacific and Norfolk Southern insist their merger application meets regulatory thresholds and urge the STB to proceed with the review. The post Union Pacific, Norfolk Southern defend rail merger application as STB review advances appeared first on FreightWaves.
A proposed freight rail merger could help birth a dramatic expansion of passenger rail service in the sprawling Atlanta metropolis, and benefit trucking, too. The post Rail mega-merger revives proposal for new, expanded Atlanta passenger services — and there’s a trucking angle appeared first on FreightWaves.
The Surface Transportation Board said supplemental information from the railroads was sufficient to restart its review, with a final decision not expected until after May 2027.
The Surface Transportation Board resumed its review of the Union Pacific-Norfolk Southern merger after lifting a prior delay. The post Regulators set schedule for review of UP-NS merger appeared first on FreightWaves.
Sell-side analysts have parked on Hold while some of the sharpest event-driven hedge funds in the business are quietly building complex positions around Norfolk Southern's pending merger. The two camps are not fighting over fundamentals. They are betting on very different things entirely.
BNSF Railway filed a motion asking regulators to deny the proposed $71.5 billion merger of Union Pacific and Norfolk Southern, saying the two parties did not prove that the merger is in the public interest. “It is anti-competitive, unnecessary to secure any achievable benefits, and will hurt farmers, industrial shippers, rail workers, and consumers,” said BNSF, a unit of Berkshire Hathaway, in a filing to the Surface Transportation Board, the economic regulator overseeing the railroads. “The Board should deny the merger now,” BNSF said.
📣 "That does not resonate with the customer when you tell them they have fewer options...they have the memories and the trauma of the prior consolidations in this industry. And some of the worst trauma, I'm sorry, [Union Pacific], you caused it.
SummaryView Transcript Rail traffic is UP, but the biggest story in North American rail is the proposed CPKC-KCS merger. We unpack the latest AAR data and hear why Union Pacific and Norfolk Southern CEOs believe this merger will be *better* for consumers, improving service, lowering costs, and bringing trucks off highways. But competitors aren’t convinced. […] The post Rail Merger: UP CEO Says it’s BETTER for Consumers | FreightWaves Today appeared first on FreightWaves.
The CEO of BNSF says Union Pacific’s latest regulatory filing does nothing to change the anti-competitive aspects of the $85 billion rail merger. The post BNSF CEO assails new rail merger filing, says transcon will raise rates, prices appeared first on FreightWaves.
The CEOs of Union Pacific and Norfolk Southern are confident that their merger application addressing competition concerns provides a compelling case for regulatory approval. The post CEOs of UP, NS, say latest additions to rail merger application further enhance competitive aspects appeared first on FreightWaves.
The new commitments include expanded gateway pricing and temporary access to competing rail service if performance slips after the merger.
Union Pacific and Norfolk Southern have added new customer assurances to their merger application filing. The post Union Pacific, Norfolk Southern add new customer protections as STB merger review advances appeared first on FreightWaves.
The companies added commitments, including expanded gateway pricing, to ensure the combined railroad will provide faster, more reliable service as promised.
On July 23, both Union Pacific Corporation (NYSE:UNP) and Norfolk Southern Corporation (NYSE:NSC) delivered their Q2 results, giving investors better insight into which railroad stock is the better play. While both companies reported strong results, NSC’s investment case is now tied to the possible acquisition. Investors must weigh UNP’s standalone growth potential against NSC’s risks […]
The deal would provide Canadian National with access to shipper sites that would face reduced Class I railroad offerings, pending STB approval.
A deal by Union Pacific to win over a key competitor for its merger with Norfolk Southern actually undermines its proposal, says BNSF The post BNSF: New UP-CN deal ‘undermines’ case for merger appeared first on FreightWaves.
Canadian National will support the UP-NS merger in exchange for improved access to markets in the U.S. Midwest and Mexico. The post CN and UP reach settlement on Norfolk Southern merger appeared first on FreightWaves.
Norfolk Southern Corporation (NYSE:NSC) is one of the Best Railroad Stocks to Invest In According to Billionaires. As of Q1 2026, 24 billionaires held the stock. On July 7, Norfolk Southern and Union Pacific submitted the first portion of their responses to the Surface Transportation Board’s request for supplemental information tied to their accepted merger […]
As the Big Boy steam locomotive thundered into Philadelphia for the USA 250 celebration, the CEOs of Union Pacific and Norfolk Southern talked about the proposed merger that could reshape the American supply chain. The post EXCLUSIVE: Union Pacific, Norfolk Southern CEOs talk about the rail merger that could reshape the U.S. economy appeared first on FreightWaves.
Norfolk Southern (NYSE:NSC) and Union Pacific have filed detailed responses with the Surface Transportation Board on their proposed merger. The submissions address regulatory questions around control of jointly owned rail entities and clarify plans to keep certain assets separate after the deal. Both companies signaled ongoing cooperation with the STB as the review process continues. Norfolk Southern, trading at $322.74, is in focus as regulators review one of the largest potential freight...
By David Shepardson WASHINGTON, July 7 (Reuters) - Union Pacific and Norfolk Southern told a U.S. government agency Tuesday they are willing to divest ownership stakes in some smaller railroads as
Union Pacific and Norfolk Southern submitted initial responses to the Surface Transportation Board's request for additional data regarding their proposed transcontinental rail merger. The post Union Pacific, Norfolk Southern submit more merger data appeared first on FreightWaves.
Union Pacific Corporation (NYSE:UNP) is one of the most profitable industrial stocks to buy now. On May 28, the Surface Transportation Board confirmed that it has received the merger application from Union Pacific Corporation (NYSE:UNP) and Norfolk Southern Corporation. The application paves the way for the proposed merger to move forward in the review process. […]
Union Pacific (NYSE:UNP) and Norfolk Southern are the focus of new concerns around a potential merger and its impact on U.S. agricultural shippers. Major farm and grain trade groups are warning that the deal could lead to higher freight rates, weaker rail competition, and pressure on supply chain reliability. The issue is attracting attention because agricultural inputs and crop shipments rely heavily on rail, so any changes in pricing power or service terms could affect costs across the...
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