MoUJul 22, 2026, 08:04 PM

CN, Union Pacific Sign MoU for Competitive Access, Midwest Expansion

AI Summary

Canadian National Railway (CN) and Union Pacific (UNP) have signed a binding Memorandum of Understanding (MoU) to establish a framework for CN to gain competitive access in the context of Union Pacific's proposed merger with Norfolk Southern (NSC). This agreement aims to preserve customer options and resolve terminal ownership issues, significantly expanding CN's presence in the Midwest, including new access to Kansas City. In return, CN will not oppose the Union Pacific-Norfolk Southern merger, with both parties collaborating on the STB approval process.

Key Highlights

CN gains competitive access where Class I railroad options are reduced from 2 to 1 or 3 to 2.
CN acquires Norfolk Southern's stakes in Kansas City Terminal Railway (KCT) and Terminal Railroad Association of St. Louis (TRRA).
CN obtains new Midwest access rights between Tuscola, IL, and East St. Louis, IL.
CN gains rights to serve customers between St. Louis, MO, and Kansas City, MO.
CN will have a presence in Kansas City for the first time, using Union Pacific's Neff Yard.
CN will not oppose the proposed merger between Union Pacific and Norfolk Southern.
The agreement is subject to Surface Transportation Board (STB) approval and merger finalization.

View SEC Filing

CNI

Railroads

CANADIAN NATIONAL RAILWAY CO

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