Union Pacific to Acquire Norfolk Southern in $85 Billion Transcontinental Railroad Merger
August 18, 2025
Union Pacific Corporation and Norfolk Southern Corporation announced a definitive agreement to merge, creating a coast-to-coast “transcontinental railroad” network spanning over 50,000 route miles across 43 states. Under the deal terms, Norfolk Southern shareholders will receive 1 Union Pacific share and $88.82 in cash for each share of Norfolk Southern, valuing Norfolk Southern at an enterprise value of about $85 billion and targeting about $2.75 billion in annualized synergies.
- Buyers
- Union Pacific Corporation
- Targets
- Norfolk Southern Corporation
- Industry
- Transportation
- Location
- United States
- Transaction Type
- Buyout
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