"Jan 16 (Reuters) - The U.S. Surface Transportation Board on Friday sent back Union Pacific’s $UNP (+0,27%) proposed $85 billion merger with Norfolk Southern $NSC (+0,33%) for revision, saying it lacked required information, as part of a review in which the U.S. transport regulator will define what enhanced competition means under tougher merger rules adopted in 2001.
The STB ruled the December application incomplete, citing missing projections of market share and impacts on competition. The board rejected the filing without prejudice, allowing the railroads to refile once the deficiencies are addressed."
www.reuters.com/business/us-rail-regulator-says-union-pacific-norfolk-southern-merger-filing-incomplete-2026-01-16/