Union Pacific Corporation (NYSE: UNP) and Norfolk Southern Corporation (NYSE: NSC) announced announced a merger that would combine the two companies' 50,000 route miles of railway lines across 43 states into a single coast-to-coast rail network.
The Details:
The deal values Norfolk Southern at $85 billion, forming a $250 billion enterprise, with Union Pacific acquiring it for $320 per share—a 25% premium based on July 16, 2025, prices—issuing 225 million shares for 27% ownership.
The merger will link 100 ports, streamlining freight delivery for manufactured goods such as steel and lumber and easing highway congestion, with a target closure by early 2027, pending regulatory and shareholder approval.
Union Pacific CEO Jim Vena said, “This transaction advances the industry… benefiting customers, communities, and employees.”
Norfolk Southern CEO Mark George added, “Our combined strengths will deliver for the American economy.”
Expected $2.75 billion in annual synergies and job security for workers highlight the deal’s impact.
Today we announced a historic agreement to combine with @UnionPacific to create America’s first transcontinental railroad.
Together we will unleash the strength of our nation’s economy and preserve union jobs. The combined company will aim to be the safest railroad in North
— #Norfolk Southern (#@nscorp)
11:25 AM • Jul 29, 2025
Why It Matters:
This merger is expected to enhance shipping efficiency, preserve jobs, and drive economic value across the U.S.
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