WASHINGTON (Jan. 16, 2026) – The Surface Transportation Board (STB) issued a unanimous decision rejecting the merger application submitted by Union Pacific and Norfolk Southern.
The following statement regarding the decision can be attributed to the American Chemistry Council (ACC):
“ACC commends the STB for rejecting the application for proposed Union Pacific–Norfolk Southern merger. This proposal is the largest, most expensive and consequential mergers ever brought before the Board—one that would place nearly half of all U.S. rail traffic under the control of a single carrier in an industry already dominated by a few powerful players. Given the unprecedented size and potential impacts, it is essential for the Board and all stakeholders to have the information needed to fully assess the proposal. There is too much at stake to get it wrong.
“Decades of experience make one thing clear: excessive consolidation within the freight rail industry drives up costs, erodes service, and undermines the resilience of America’s supply chain. When competition shrinks, affordability suffers. U.S. manufacturers, farmers, energy producers—and ultimately consumers—simply cannot absorb another merger that tightens the grip of a few dominant railroads and leaves shippers with nowhere else to turn.
“A transaction of this magnitude must not be rushed. We appreciate the Board’s deliberate, data driven approach and its firm commitment to the STB’s modern merger standards, which make clear that any major rail consolidation must enhance competition—not diminish it. That is the only acceptable bar.
“American industry cannot afford another mega-merger that leaves customers with fewer choices, higher prices, and declining service. ACC remains committed to working with regulators, policymakers, and stakeholders to ensure that any proposed merger serves the public interest as the law demands and protects the nation’s supply chain, economy, and manufacturing competitiveness.”
