Union Pacific CEO Jim Vena said the company does not need federal government support for its $71.5 billion acquisition of Norfolk Southern, responding to President Trump's expressed interest in owning a 15% stake in the deal. Vena made these remarks during an interview with CNBC on Thursday, following the recent federal regulator’s pause for additional review of the merger, according to fortune.com.
Vena said he was flattered by the president’s interest but emphasized that Union Pacific can afford the deal independently. “We’re a company that can afford to make this deal,” he stated. He also noted he has not had direct communication with President Trump or the government about any potential partnership. However, Vena did not completely rule out the possibility of negotiation with the administration in the future, as reported by fortune.com.
The $71.5 billion merger between Union Pacific and Norfolk Southern is poised to be one of the largest railroad consolidations in U.S. history. The deal has drawn regulatory scrutiny, with federal authorities pausing the merger for further review. President Trump’s proposal to take a federal stake in the transaction is unusual for such large private-sector deals and highlights the deal’s significance in the transportation sector, according to fortune.com.
Union Pacific’s CEO reiterated that the company intends to proceed without federal investment, underscoring its financial capability to complete the acquisition. The next regulatory decision on the merger’s approval is pending, with the federal review process ongoing as of early June 2026, per fortune.com.