STB Rejects Union Pacific Bid to Buy Norfolk Southern for Now

STB Rejects Union Pacific Bid to Buy Norfolk Southern for Now

In a document posted to the STB’s website Jan. 16, the agency said Union Pacific’s application to acquire Norfolk Southern was rejected, but it could be revised and refiled.

UP-NS merger filing omits billions in intermodal costs, analyst tells STB

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STB rejects Union Pacific bid to buy Norfolk Southern, for now, citing missing information

Union Pacific Corp.’s bid to buy Norfolk Southern Corp., announced in July 2025, suffered a setback Jan. 16, 2026, when the Surface Transportation Board said it the application was insufficient. But the STB said Union Pacific can refile its application when the necessary information is added.

Union Pacific stock jumps 3% as earnings near and Norfolk Southern merger reset stays in focus

New York, Jan 21, 2026, 14:36 ET — Regular session underway. Shares of Union Pacific Corp climbed roughly 3% to $228.42 Wednesday afternoon, pushing rail stocks higher. Investors shrugged off short-term deal chatter, setting their sights on earnings due next week. Union Pacific’s stock rally takes on new weight as the company prepares to release fresh data. Investors are eager for insight on demand, pricing, and costs following a rocky start for…