The U.S. Surface Transportation Board (STB) restarted its review of the $85 billion Union Pacific and Norfolk Southern merger. Regulators previously paused the process in May 2026 to evaluate competitive and environmental impacts.
The railroads submitted additional required materials in July. The STB now deems the application sufficient to establish a procedural schedule for public comments.
The board emphasized that restarting the review does not imply an endorsement of the merger. This deal would create the first single-company, coast-to-coast freight railroad in the United States.
A final decision is expected by the second half of 2027. The deal spread narrowed as investors reacted positively to the development.