FORT WORTH, Texas — BNSF CEO Katie Farmer says the railroad’s initial review of the Union Pacific-Norfolk Southern merger application filed today “does not change BNSF’s opposition to the proposed merger.”
In a statement issued today (Dec. 19), Farmer says the deal “poses a significant threat to the U.S. economy and the American consumer through its long-term competitive harms. It would leave shippers with fewer options — driving higher rates and ultimately higher prices for consumers.” Farmer says the benefits “appear to accrue primarily to shareholders. Past mergers demonstrate the risk of serious service failures with destructive impacts to customers, the U.S. rail network, and the American economy.
“This is precisely why the STB strengthened its merger rules: applicants must now prove their deal will not only preserve but enhance competition; that it serves the public interest, and its purported benefits can’t be delivered through partnerships. BNSF is confident that UP has not met these requirements.”
BNSF has questioned whether UP had complied with conditions of its merger with Southern Pacific [see “BNSF asks STB to review …,” Trains.com, Dec. 1, 2025], and Farmer says “UP has a long history of making promises in past mergers that they back away from once they’ve secured approval.” She said BNSF “remains focused on achieving these same benefits through partnership and collaboration which results in streamlined service, and greater operational flexibility — delivering real, immediate benefits to customers.”
Farmer said BNSF will have more to say about the merger application “soon.”
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