Intermodal, Drayage & Chassis

Special Report

Peaking under the hood of the UP-NS merger

By Ari Ashe

As Union Pacific Railroad’ s( UP) proposed acquisition of Norfolk Southern Railway( NS) works its way through a lengthy regulatory review process, the industry is taking a closer look at the potential impact the creation of a singleline transcontinental US railroad would have on intermodal supply chains.

The $ 85 billion deal suffered a procedural setback in mid-January, when the US Surface Transportation Board( STB) rejected the formal merger application filed Dec. 19 as“ incomplete.” The STB was quick to point out, however, that this ruling“ should not be read as an indication of how the board might ultimately assess any revised application.”

10 Journal of Commerce | February 2, 2026 www. joc. com