Union Pacific Corp. (UNP) and Norfolk Southern Corp. (NSC) have filed a joint application to merge and create America’s first transcontinental railroad. The companies’ merger agreement outlines enhanced competition and public benefits. The application includes 2,000 letters of support and 99% shareholder approval. The merger aims to connect the US coast to coast, reducing rail car handlings and car-miles daily. Competitive shipping alternatives will remain, with minimal customer locations affected. Benefits include converting 2 million truckloads to rail annually, protecting union jobs, and creating 900 new positions by the third year post-merger.

Canadian National Railway Co opposes the merger, citing lack of competition enhancement and public benefits in the application. CN plans to actively participate in the STB review process to ensure competition is preserved and enhanced.

Read more at Nasdaq: Union Pacific And Norfolk Southern Seek STB Approval For Merger; CN Warns Of Competition Risks