Union Pacific to Merge with Norfolk Southern in an $85 Billion Transcontinental Railroad Deal
August 18, 2025
Union Pacific Corporation and Norfolk Southern Corporation announced a definitive agreement to merge, creating what they describe as the first transcontinental railroad in the U.S. connecting their complementary networks coast-to-coast. The deal is valued at about $85 billion for Norfolk Southern, with Norfolk Southern shareholders receiving 1 Union Pacific common share plus $88.82 in cash per share, and is subject to Surface Transportation Board review and other customary closing conditions.
- Buyers
- Union Pacific Corporation
- Targets
- Norfolk Southern Corporation
- Industry
- Transportation
- Location
- Nebraska, United States
- Transaction Type
- Buyout
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