Union Pacific-Norfolk Merger Is Poised to Upend Usual Politics

The politics surrounding a potential merger between Union Pacific Corp. and Norfolk Southern Corp. railroads could change dramatically once the Surface Transportation Board receives an official application as soon as next month, according to analysts watching the deal.

A growing lobbying fight pits the two railroads against their customers, who range from retailers to chemical companies. President Donald Trump has publicly praised the deal and Union Pacific donated to his White House ballroom project, raising concerns that he will try to pressure the independent agency to approve it.

Lobbying so far amounts to a “phony war” because the ultimate political ...