UNP · News · 20260814N

Merger Shipper Protections

UNION PACIFIC CORP · 2026-08-14 · Importance 31 · Surprise 42

The National Grain and Feed Association (NGFA) formally asked the U.S. Surface Transportation Board (STB) to reject Union Pacific’s proposed merger with Norfolk Southern Corp. NGFA’s board concluded that the updated merger application does not satisfy STB standards requiring the transaction to increase and improve competition. The opposition follows a year-long review and feedback process involving NGFA members, potentially adding regulatory and approval risk to the proposed transaction.

Key facts

• The National Grain and Feed Association (NGFA) has formally requested the US Surface Transportation Board (STB) to reject the proposed merger between Union Pacific and Norfolk Southern Corp, and the NGFA's board of directors voted to oppose the merger stating the applicants' updated merger application does not meet the STB's standards for increasing and improving competition. source
• Union Pacific Corp. (UNP) stock fell 1.38% on Friday, closing at $293.68, ending a three-day winning streak for the company's shares. source