Overview
- Nearly 99% of votes at both railroads backed creating the first coast-to-coast U.S. freight network, with Union Pacific reporting 99.5% support and Norfolk Southern nearly 99%.
- Union Pacific plans to file the formal merger application in late November or early December, beginning a lengthy federal review before any closing.
- Norfolk Southern investors will receive one Union Pacific common share plus $88.82 in cash per NS share under the approved terms of the $85 billion deal.
- The companies are targeting an early 2027 close if regulators sign off, with the STB set to weigh potential effects on competition, rates, service quality and safety.
- Supporters include major rail unions and many shippers, while BNSF, some chemical manufacturers and other rivals warn of reduced competition; President Trump has voiced support for the transaction.