Union Pacific and Norfolk Southern Announce Plans for Merger

On July 29, 2025, Union Pacific (UP) and Norfolk Southern (NS) announced plans for an $85 billion merger, in which UP would acquire NS. This follows unanimous approval by both Board of Directors of UP and NS. The merger would create the United States' first coast-to-coast railroad and would connect over 50,000 route miles across 43 states, linking nearly every corner of the United States and approximately 100 ports. 

The merger is still subject to shareholder approval and Surface Transportation Board (STB) approval. UP and NS filed a notice of intent with the STB on July 30, 2025. UP and NS state a "UP-NS combination will provide new rail options for shippers in regions where railroad connections are less efficient...creating a more accessible, sustainable, and lower-cost supply chain for manufacturers and consumers."

UP and NS's notice of intent filing with the STB states UP and NS intend to file an application for the merger with the STB on or before January 29, 2026. UP and NS will be required to demonstrate that the merger is in the public interest and will enhance competition. Following the application, the STB will begin a detailed examination and will consider a wide range of factors. Among other items, the STB will review 1) The impact the merger would have on competition for shippers; 2) The impact on safety practices and the ability of the new entity to maintain safe operations; and 3) The effect on railroad workers and labor agreements.

Throughout the process, stakeholders-including shippers, labor unions, and competing railroads-will have the opportunity to voice their support or concerns to the STB.

The UP/NS announcement follows the STB's 2023 approval of the Canadian Pacific (CP) and Kansas City Southern (KCS) merger, which formed Canadian Pacific Kansas City (CPKC). 

Click here to read the UP/NS notice of intent filed with the STB.