UP and NS Complete Supplemental STB Filings as STB Reviews Merger Application

On July 7 and July 27, 2026, Union Pacific Railroad Company (UP) and Norfolk Southern Railway Company (NS) (collectively, the "Applicants") submitted supplemental filings in response to the Surface Transportation Board's (STB) May 28, 2026 decision which conditionally accepted UP's revised application to acquire control of NS. The filings address issues including joint asset governance, competitive access, service protections, and post-acquisition oversight.

Among other matters, the Applicants provided additional information regarding ownership interests in the Terminal Railroad Association of St. Louis (TRRA), the Kansas City Terminal Railway Company (KCT), and TTX Company. The filings also coincide with UP's recently announced agreement with Canadian National Railway (CN), under which CN would acquire NS's ownership interests in TRRA and KCT, subject to approval and consummation of the proposed transaction. Separately, the Applicants provided additional information regarding governance of TTX following the proposed acquisition.

The July 27 filing introduced several commitments described by the Applicants as measures to address competition and customer concerns. These commitments include an expansion of the proposed Committed Gateway Pricing (CGP) program, preservation of Class I rail access for certain 3-to-2 shippers, service-level protections during the integration period, and a proposed customer rate-relief mechanism. With the required supplemental filings now submitted, the STB will determine whether the record is sufficiently developed to lift the current abeyance and establish a procedural schedule for the next phase of the proceeding.