Union Pacific Shares Climb on Trumps STB Shake-Up as 112B Volume Ranks 61st

On August 29, 2025, Union Pacific (UNP) saw a 0.55% rise in its stock price, with a trading volume of $1.12 billion, ranking 61st in market activity for the day.

President Donald Trump’s removal of Robert Primus, a member of the Surface Transportation Board (STB), has intensified scrutiny over Union Pacific’s proposed $85 billion acquisition of Norfolk Southern. Primus, a Democrat appointed by Trump in 2020, criticized the decision as “deeply troubling and legally invalid” and stated his intention to continue serving until legal challenges are resolved. The STB, currently composed of two Republicans and one Democrat, is set to evaluate the merger, which could create the largest railroad in the U.S. but faces regulatory and customer concerns.

The termination of Primus aligns with Trump’s broader pattern of removing Democratic appointees from regulatory agencies, raising questions about the STB’s independence. With two open seats on the board, the administration plans to nominate new members, potentially shifting the balance of power in favor of the merger. However, delays or legal disputes could prolong the review process, introducing uncertainty for Union Pacific’s stock.

This development follows similar actions by the Trump administration to influence regulatory outcomes, which may signal a pro-business agenda. Investors are monitoring how the STB’s evolving composition and the administration’s priorities might affect the merger’s approval timeline and conditions.

Union Pacific’s stock performance reflects the mixed sentiment surrounding the deal, with regulatory risks and potential market consolidation remaining key factors for future price movements.