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Surface Transportation Board Halts $85 Billion Union Pacific-Norfolk Southern Merger, Citing Market Concentration Risk

The Surface Transportation Board has unanimously rejected requests to summarily dismiss the proposed $85 billion merger between Union Pacific and Norfolk Southern. The decision allows the regulatory review of America's potential first transcontinental railroad to move forward.

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The Surface Transportation Board has denied motions to dismiss the Union Pacific-Norfolk Southern merger application, allowing the review to proceed.From: STB Denies Motions to Dismiss Union Pacific-Norfolk Southern Merger, Allowing Review to Proceed

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Key numbers

$85 billion
Proposed merger valuation
50,000
Combined route miles across 43 states
15 days
Extended comment window granted to DOJ and DOT
2027
Expected STB final decision timeline

From: Surface Transportation Board Halts $85 Billion Union Pacific-Norfolk Southern Merger, Citing Market Concentration Risk

Charts, maps and images

The proposed transcontinental network would span 50,000 route miles across 43 states.From: STB Denies Motions to Dismiss Union Pacific-Norfolk Southern Merger, Allowing Review to Proceed ·
The proposed transcontinental network would create an enterprise valued at over $250 billion.From: Surface Transportation Board Halts $85 Billion Union Pacific-Norfolk Southern Merger, Citing Market Concentration Risk ·
Shippers and state attorneys general warn that the merger would concentrate unprecedented pricing power in a single carrier.From: Surface Transportation Board Halts $85 Billion Union Pacific-Norfolk Southern Merger, Citing Market Concentration Risk ·
The merger would create the first single-line railroad linking the Atlantic and Pacific coasts.From: STB Denies Motions to Dismiss Union Pacific-Norfolk Southern Merger, Allowing Review to Proceed ·

Timeline

September 2026

  1. STB Denies Motions to Dismiss Union Pacific-Norfolk Southern Merger, Allowing Review to Proceed

August 2026

  1. Surface Transportation Board Halts $85 Billion Union Pacific-Norfolk Southern Merger, Citing Market Concentration Risk