Union Pacific, Norfolk Southern Resubmit $85B Merger Bid

Union Pacific and Norfolk Southern resubmitted an amended application on April 30 to the Surface Transportation Board for their proposed $85 billion merger, months after regulators rejected the initial filing for lacking required details.

The companies first announced the deal in July, aiming to form the nation's first transcontinental freight railroad spanning more than 50,000 route miles across 43 states and linking about 100 ports from the East Coast to the West Coast. The Surface Transportation Board dismissed the original December application in January, citing incomplete system impact analyses, market share projections, and the full merger agreement. The agency emphasized that its decision addressed only completeness, not the transaction's merits.

Executives from both railroads stated that the revised submission includes comprehensive traffic data from all six Class I railroads, addressing the board's requests. "After completing the additional work requested by the STB, the facts remain clear. This merger enhances competition and delivers real public benefits that make America's supply chain stronger," Union Pacific CEO Jim Vena said.

The application projects annual shipper...