PartnershipJul 23, 2026, 06:07 AM
Canadian National, Union Pacific Deal Expands Access
AI Summary
Canadian National Railway Company (CN) and Union Pacific (UNP) announced a binding Memorandum of Understanding to expand CN's competitive access in connection with the proposed merger between Union Pacific and Norfolk Southern. This agreement allows CN to acquire ownership interests in the Kansas City Terminal Railway Company and the Terminal Railroad Association of St. Louis, and gain new access in the Midwest, including a footprint in Kansas City. In return, CN will not oppose the Union Pacific-Norfolk Southern merger, with the agreement contingent on regulatory approval.
Key Highlights
- CN and Union Pacific signed a binding Memorandum of Understanding for competitive access related to the Union Pacific-Norfolk Southern merger.
- CN gains access to shipper facilities where Class I railroad options would be reduced.
- CN acquires Norfolk Southern's ownership interests in Kansas City Terminal Railway Company (KCT) and Terminal Railroad Association of St. Louis (TRRA).
- CN gains new access in the Midwest, including overhead rights between Tuscola, Illinois, and East St. Louis, Illinois.
- CN will have a footprint in Kansas City, with usage of Union Pacific’s Neff Yard.
- CN will not oppose the Union Pacific-Norfolk Southern merger.
- The agreement is contingent on Surface Transportation Board (STB) approval and the closing of the merger.
Price Impact
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