Sept 10 (Reuters) - Union Pacific ( UNP ) CEO Jim Vena
said on Wednesday he was confident that the railroad operator
would receive a merger approval from the U.S. administration
over its deal with Norfolk Southern ( NSC ).
In July, Union Pacific ( UNP ) announced an $85 billion
stock-and-cash acquisition of the smaller rival, which, if
approved, would create the country's first coast-to-coast
freight rail operator.
Speaking at a Morgan Stanley Conference, Vena said he has
met with senior people in the administration, who called the
deal a "win for the country".
"Do I think we're going to get it approved? The answer is
yes", Vena added.
The merger faces intense scrutiny from the Surface
Transportation Board, which received a notice of intent from the
companies on July 30, 2025.
The companies plan to file a formal application by January
29 and are targeting an early-2027 close.
Last month, the White House fired STB member Robert Primus,
as part of a broader series of dismissals from independent
agencies and commissions under President Donald Trump's
administration.
In a regulatory filing on Wednesday, the railroad, which
primarily operates on the West Coast, said it expects $50
million in merger costs and has paused share repurchases while
it awaits approval.
(Reporting by Anshuman Tripathy and Apratim Sarkar in
Bengaluru)