Union Pacific and Norfolk Southern file STB merger application to create first transcontinental railroad

UNION PACIFIC CORP

Filing submitted Dec 19, 2025; nearly 7,000 pages; includes 2,000 letters of support and 99% shareholder votes in favor.
End-to-end combination will connect 43 states, 100+ ports; expects to convert 2M truckloads from road to rail annually.
Projected to add ~900 net union jobs by year 3; protects all existing union jobs; average compensation ~$160K per year.
Expects $2.1B in incremental capital investment and $133M in annual capital synergies; completion targeted early 2027.
Plans to eliminate 2,400 daily car/container handlings and 60,000 car-miles; transit time cuts of up to 20 hours on key routes.

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