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FINWIRES

CN Rail Comments on STB Decision to Require More Information on UP-NS Merger

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Canadian National Railway Company (CNR.TO) overnight Thursday said the Surface Transportation Board (STB) was correct to freeze the review of the proposed Union Pacific (UP) and Norfolk Southern (NS) merger.

The STB did accept the two companies' revised application dated April 30, 2026, but noted in its May 28 decision that there are "several aspects of the Revised Application that are unclear or underdeveloped and require supplementation."

The STB has instructed that Union Pacific and Norfolk Southern submit a supplemental filing by July 27.

"The amended application for the proposed merger would reduce competitive rail options for shippers, increase concentration across key freight corridors, and create significant downstream risks for the supply chains," CN said in a statement.

CN Rail shares were last seen up US$0.95, to US$119.76 in New York trading.

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