ST. LOUIS — Union Pacific and Norfolk Southern submitted the first portion of information requested by the Surface Transportation Board on July 7, 2026. The filing addresses board inquiries regarding control of the Terminal Railroad Association of St. Louis, Kansas City Terminal Railway, and TTX.

The Surface Transportation Board conditionally accepted the revised merger application from the two railroads on May 28, 2026, and set a July 27, 2026, deadline for additional data. The proposed merger is valued at $85 billion.

In the July 7 filing, Union Pacific and Norfolk Southern stated that they do not control the Terminal Railroad Association of St. Louis or the Kansas City Terminal Railway. The companies offered to divest their stakes in both entities and noted that required data would be submitted in two filings.

The Terminal Railroad Association of St. Louis is jointly owned by Union Pacific, BNSF, CSX, CN, and Norfolk Southern, with Union Pacific holding the largest share. BNSF, Union Pacific, Norfolk Southern, and Canadian Pacific Kansas City share ownership of Kansas City Terminal Railway. Union Pacific and Norfolk Southern stated that no representatives from other railroads attended a special meeting of the Terminal Railroad Association of St. Louis to discuss post-merger ownership.

Regarding the opposition, the filing states: "In particular, for the TRRA, the filing provides clear evidence that the other Class I railroads who are vocally opposing the merger are using the TRRA as a pawn in their efforts to stop or delay the merger." The companies stated they are committed to working with the board toward a mid-2027 completion of the merger. The start of the formal evaluation and environmental review was delayed pending new submissions. The board had gathered data for months prior to the railroads' initial merger application in December 2025. The second filing is expected to cover enhanced competition aspects stipulated by the board.

Why It Matters

The submission of detailed information by Union Pacific and Norfolk Southern to the Surface Transportation Board is a step in the regulatory process for their proposed merger. The board's inquiries into the control of shared rail terminals address potential competitive impacts. The companies' offer to divest their stakes in these entities aims to resolve concerns raised by the regulatory body.

The ongoing data submissions and the anticipated environmental review are part of the federal oversight process required for the railroad merger. Both companies have stated their commitment to finalizing the merger by mid-2027.