NEW YORK
Union Pacific Corp CEO Jim Vena met with U.S. President Donald Trump in the Oval Office to discuss the railroad’s proposed $85 billion acquisition of Norfolk Southern Corp, as the company seeks regulatory approval for the largest U.S. rail merger in decades. The deal, announced in July, caught many by surprise in an already concentrated market and would likely have faced stricter scrutiny under the previous administration’s antitrust stance.
Union Pacific hopes Trump’s backing could speed up the approval process, which faces opposition from competitors and concerns from shippers worried about reduced competition. If approved, the merger would create the first coast-to-coast rail network, improving efficiency and eliminating transfer delays at key hubs such as Chicago.
According to Union Pacific, Trump and Vena discussed how the merger would benefit American competition, consumers, and unionized workers by protecting jobs. Speaking at a Morgan Stanley conference, Vena revealed that he had held discussions with top administration officials prior to the meeting, who recognized the proposal’s value and potential national benefits.
Sources familiar with the matter noted that Union Pacific had received early indications of support before officially launching its bid. Trump, meanwhile, confirmed the meeting occurred because the CEO sought his input on the merger. The outcome could significantly reshape the U.S. freight rail landscape.