Union Pacific Shareholders Approve $85 Billion Merger

“We appreciate our shareholders’ support in reaching this important milestone on our path to building America’s first coast-to-coast railroad,” Union Pacific CEO Jim Vena said in a statement published on Nov. 14.

The merger will form America’s first transcontinental railroad.

“Our shareholders see the value and understand this merger will unlock new opportunities to enhance service, growth, and innovation,” Vena added.

If approved by the Surface Transportation Board (STB), an independent federal agency that regulates the railroad industry, it will connect 43 states from the East Coast to the West Coast via 100 ports.

“We look forward to filing our application with the Surface Transportation Board (STB) and detailing how the transaction will provide seamless, single-line service across the country to improve transit times, safely increase reliability, and strengthen the competitiveness of U.S rail,” Vena said.

Nearly 80% of all outstanding shareholders participated in the vote that the companies hope will “transform the U.S. supply chain, unleash the industrial strength of American manufacturing and create new sources of economic growth and workforce opportunity that preserves union jobs.”

If the deal passes the STB, the companies hope to close the transaction by early 2027.

The Epoch Times asked the STB about its plans for the merger, but as of Friday, the STB’s operations remained suspended due to a funding lapse caused by the recent government shutdown, which ended on November 12.

The board sent The Epoch Times an automatic reply, which read, “This inbox is not being monitored due to a lapse in funding. We will respond to your e-mail upon our return.”

Stock prices for both railroad giants did not move much after the vote announcement was revealed on Friday.

As of 1:30 p.m. ET, Union Pacific’s stock price sat at $222.88 per share, which was only a 0.63% increase from the previous day.

At the same time, Norfolk Southern’s stock price sat at $285.13 per share, up 0.56% from the previous day.

Union Pacific, based in Omaha, Nebraska, has helped ship goods across America for 160 years. It’s currently in 23 states across the Midwest and East Coast.

Norfolk Southern, headquartered in Atlanta, Georgia, was founded in 1827 and operates in 22 states across the East Coast and the South.