UNP · News · 20260929N
Acquisition / Partnership / Divestiture
UNION PACIFIC CORP · 2026-09-29 · Importance 58 · Surprise 42 · In source text
The Surface Transportation Board unanimously denied requests to dismiss Union Pacific and Norfolk Southern’s revised merger application, allowing the regulatory review to continue. The proposed transaction would combine the companies’ rail networks into a transcontinental railroad offering single-line freight service. The companies said the combined network could remove more than 2 million truckloads from highways and increase competition. Union Pacific and SMART-MD also reached a jobs-for-life agreement covering union members if the merger is approved, with completion targeted for the second half of 2027.
Key facts
- The proposed merger is expected to potentially remove over 2 million truckloads from highways. source
- Union Pacific and Norfolk Southern reached a jobs-for-life agreement with SMART-MD ensuring employment for union members upon merger approval. source
- UNP4641664 bond has a 4.375% coupon rate, an issue date of June 8, 2018, and a maturity date of September 10, 2038, with semi-annual interest payments. source
- UBS upgraded Union Pacific to Buy with a $339 price target. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| revenue | positive | contingent | — | The proposed merger is expected to potentially remove over 2 million truckloads from highways. |
| operating_income | negative | committed | — | Union Pacific and Norfolk Southern reached a jobs-for-life agreement with SMART-MD ensuring employment for union members upon merger… |