Shareholders of Union Pacific and Norfolk Southern overwhelmingly approved a plan to merge the two Class I railroads during a special meeting held on November 14. 

The shareholder meeting took place nearly four months after UP and NS announced their plans to merge and create the first U.S. transcontinental railroad. The merger would make the largest railroad in U.S. history, but still needs approval from the U.S. Surface Transportation Board. 

UP reported that 99.5 percent of its shareholders voted in favor of the transaction, while “nearly 99 percent” of NS shareholders approved of the deal. 

“We appreciate our shareholders’ support in reaching this important milestone on our path to building America’s first coast-to-coast railroad,” said Union Pacific CEO Jim Vena. “Our shareholders see the value and understand this merger will unlock new opportunities to enhance service, growth and innovation. We look forward to filing our application with the Surface Transportation Board (STB) and detailing how the transaction will provide seamless, single-line service across the country to improve transit times, safely increase reliability and strengthen the competitiveness of U.S rail.”

—Justin Franz