STB Adopts Procedural Schedule for UP-NS Merger

On August 18, 2026, the Surface Transportation Board (STB) removed from abeyance the proceeding involving Union Pacific Railroad Company's (UP) proposed acquisition of Norfolk Southern Railway Company (NS) (collectively, the "Applicants"). The STB also adopted the procedural schedule that will govern the review process going forward. The STB found that supplemental information submitted by the Applicants in July provided a sufficient basis to resume development of the record, while emphasizing that doing so reflects no view on the merits of the proposed transaction.

In addition to establishing key filing deadlines and providing for a future public hearing, the STB directed the Applicants to resubmit certain workpapers with unfiltered underlying data to enhance transparency and allow stakeholders to more fully evaluate the analyses supporting the application. The STB also denied the Applicants' request for an expedited proceeding regarding proposed Terminal Railroad Association of St. Louis (TRRA) divestiture options, finding that the issue should be considered as part of the broader transaction review. Comments, protests, requests for conditions, and responsive applications are due November 18, 2026.

Click here to read the STB's August 18, 2026 decision.