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STB to review UP-Norfolk Southern $85B rail merger under public interest

Union Pacific Corporation logoUnion Pacific Corporation
Sig5.62Sen-2.78Env0.00Soc0.00Gov-0.82
Norfolk Southern logoNorfolk Southern
Sig3.65Sen-3.10Env0.00Soc0.00Gov0.00

The Surface Transportation Board will conduct both competition and public-interest reviews of Union Pacific and Norfolk Southern’s proposed $85 billion merger. The firms filed prefiling notification a year ago and submitted a 7,000-page initial application in December 2025. Opposition has come from the Stop the Rail Merger Coalition, including BNSF.

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