Union Pacific and Norfolk Southern today submitted the first portion of information requested by the Surface Transportation Board when it conditionally accepted their revised merger application May 28.
The STB set a deadline of July 27 for the partners to submit the additional data. UP (NYSE: UNP) and NS (NYSE: NSC) earlier said that the data would come in two filings. The start of the formal evaluation and environmental review of the proposed $85 billion merger was delayed pending the new submissions. But, the STB spent months gathering data prior to the railroads' initial merger application in December 2025.
The second filing is expected to cover the enhanced competition aspects of the merger stipulated by the STB.
Tuesday's filing addresses the STB's questions regarding control of local railroads Terminal Railroad ******* ociation of St. Louis (TRRA) and Kansas City Terminal Railway (KCT), and freight car equipment cooperative TTX. TRRA is jointly owned by UP, BNSF (NYSE: BRK-B), CSX (NASDAQ: CSX), CN (NYSE: CNI), and NS, with UP having the largest share. BNSF, UP, NS and Canadian Pacific Kansas City (NYSE: CP) share ownership of KCT.
Union Pacific and Norfolk Southern reiterated in their filing that they do not control TRRA and KCT, which handle interchange traffic between Class I carriers. They offered to divest their stakes in order to preserve that neutrality.
The STB set a deadline of July 27 for the partners to submit the additional data. UP (NYSE: UNP) and NS (NYSE: NSC) earlier said that the data would come in two filings. The start of the formal evaluation and environmental review of the proposed $85 billion merger was delayed pending the new submissions. But, the STB spent months gathering data prior to the railroads' initial merger application in December 2025.
The second filing is expected to cover the enhanced competition aspects of the merger stipulated by the STB.
Tuesday's filing addresses the STB's questions regarding control of local railroads Terminal Railroad ******* ociation of St. Louis (TRRA) and Kansas City Terminal Railway (KCT), and freight car equipment cooperative TTX. TRRA is jointly owned by UP, BNSF (NYSE: BRK-B), CSX (NASDAQ: CSX), CN (NYSE: CNI), and NS, with UP having the largest share. BNSF, UP, NS and Canadian Pacific Kansas City (NYSE: CP) share ownership of KCT.
Union Pacific and Norfolk Southern reiterated in their filing that they do not control TRRA and KCT, which handle interchange traffic between Class I carriers. They offered to divest their stakes in order to preserve that neutrality.
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