Omaha & Atlanta
|September 22, 2026
Union Pacific Corporation (NYSE: UNP) and Norfolk Southern Corporation (NYSE: NSC) today acknowledged two significant milestones in the creation of America’s first transcontinental railroad, which will eliminate time-consuming interchanges between railroads and strengthen the nation’s supply chain.
The Surface Transportation Board (STB) has unanimously denied merger opponents’ requests to dismiss the companies’ revised merger application. With the rejection of these requests, the board can continue its review of the most comprehensive merger analysis ever submitted in support of a major rail transaction. The facts as evidenced in the application are clear: a seamless, coast-to-coast railroad will provide customers more efficient and affordable freight transportation options and remove more than 2 million truckloads from taxpayer-funded highways.
Additionally, the International Association of Sheet Metal, Air, Rail and Transportation’s Railroad Mechanical Department (SMART-MD) has entered a jobs-for-life agreement with the railroads, reflecting a shared commitment to protecting represented jobs and preserving work opportunities. With SMART-MD’s support, the merger has support from a majority of unions representing Union Pacific and Norfolk Southern employees.
“The momentum behind this transaction continues to build, and we are ready to keep moving forward,” said Union Pacific CEO Jim Vena. “As we said at the beginning: this merger is all about increasing growth and competition. It's good for our employees, customers and America.”
As outlined in the application:
“The STB’s decision marks another important step in bringing Union Pacific and Norfolk Southern together, and we welcome the opportunity to continue sharing the many benefits of this transformative transaction,” said Norfolk Southern President and CEO Mark George. “The combination will create new opportunities for customers across merchandise, bulk and intermodal markets through a more connected, efficient rail network. As the process moves forward, we are glad to add SMART-MD to a growing list of labor supporters, helping to ensure that we will grow together while protecting opportunities for railroaders.”
The transaction remains subject to STB review and approval and will continue to be subject to STB oversight following closing. The two companies expect the transaction to be completed in the second half of 2027. For more information, visit AmericasGreatConnection.com.
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Union Pacific (NYSE: UNP) delivers the goods families and businesses use every day with safe, reliable and efficient service. Operating in 23 western states, the company connects its customers and communities to the global economy. Trains are the most environmentally responsible way to move freight, helping Union Pacific protect future generations. More information about Union Pacific is available at www.up.com
Since 1827, Norfolk Southern Corporation (NYSE: NSC) and its predecessor companies have safely moved the goods and materials that drive the U.S. economy. Today, it operates a 22-state freight transportation network. Committed to furthering sustainability, Norfolk Southern helps its customers avoid approximately 15 million tons of yearly carbon emissions by shipping via rail. Its dedicated team members deliver approximately 7 million carloads annually, from agriculture to consumer goods. Norfolk Southern also has the most extensive intermodal network in the eastern U.S. It serves a majority of the country's population and manufacturing base, with connections to every major container port on the Atlantic coast as well as major ports across the Gulf Coast and Great Lakes. Learn more by visiting www.NorfolkSouthern.com.
Union Pacific Media Inquiries:
media@up.com
Union Pacific Investor Inquiries:
Diana Prauner
402-544-4227 or dprauner@up.com
Norfolk Southern Media Inquiries:
media.relations@nscorp.com
Norfolk Southern Investor Inquiries:
investor.relations@nscorp.com
The statements and information contained in the news releases provided by Union Pacific speak only as of the date issued. Such information by its nature may become outdated, and investors should not assume that the statements and information contained in Union Pacific's news releases remain current after the date issued. Union Pacific makes no commitment, and disclaims any duty, to update any of this information.