00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Union Pacific and Norfolk Southern told the Surface Transportation Board
00:06they are willing to divest ownership stakes in some smaller railroads as part of their proposed
00:10$85 billion merger. The deal would create the first U.S. coast-to-coast freight rail operator.
00:17The company said they would not control the Terminal Railroad Association
00:21of St. Louis-Kansas City Terminal Railway, or TTX Company, after the merger and would
00:27divest interests if directed by regulators. They said rivals are using the smaller railroads
00:32to delay or stop the deal. The carriers say the merger would save shippers $3.5 billion
00:37a year, improve service, shift freight from trucks to rail, and protect union jobs.
00:43President Trump's removal of Robert Primus and appointment of Patrick Fuchs as STB chairman
00:48could make the regulator more receptive to approving the merger. The carriers expect to close the
00:54transaction in the first half of 2027. For all things money, visit Benzinga.com.
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