Union Pacific CEO Vena says Norfolk Southern merger will win approval

(Reuters) -Union Pacific CEO Jim Vena said on Wednesday he was confident that the railroad operator would receive a merger approval from the U.S. administration over its deal with Norfolk Southern.

In July, Union Pacific announced an $85 billion stock-and-cash acquisition of the smaller rival, which, if approved, would create the country's first coast-to-coast freight rail operator.

Speaking at a Morgan Stanley Conference, Vena said he has met with senior people in the administration, who called the deal a "win for the country".

"Do I think we're going to get it approved? The answer is yes", Vena added.

The merger faces intense scrutiny from the Surface Transportation Board, which received a notice of intent from the companies on July 30, 2025.

The companies plan to file a formal application by January 29 and are targeting an early-2027 close.

Last month, the White House fired STB member Robert Primus, as part of a broader series of dismissals from independent agencies and commissions under President Donald Trump's administration.

In a regulatory filing on Wednesday, the railroad, which primarily operates on the West Coast, said it expects $50 million in merger costs and has paused share repurchases while it awaits approval.

(Reporting by Anshuman Tripathy and Apratim Sarkar in Bengaluru)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• SpaceX held talks to acquire AI coding startup Cognition - report
• Global wheat buyers brace for supply squeeze amid Black Sea attacks
• Morgan Stanley Upgrades Merck (MRK) to Overweight