Latest news with #NorfolkSouthern
Yahoo
2 hours ago
- Business
- Yahoo
Union Pacific, Norfolk Southern explore potential merger
Union Pacific and Norfolk Southern are currently in advanced discussions regarding a potential merger, both companies have confirmed. The outcome of these discussions remains uncertain, and no guarantees can be made about the finalisation of any agreement, they insisted. Both Union Pacific and Norfolk Southern have indicated that they will refrain from further comments or updates on the matter unless they deem it necessary to disclose information or if circumstances change. The proposed merger would establish a $200bn coast-to-coast rail company, as well as create the first modern West-to-East single-line freight railroad. It could transform how goods such as grains, chemicals and autos are transported across the country. If completed, the deal would merge Union Pacific's dominant position in the western two-thirds of the US with Norfolk Southern's 19,500-mile network that spans 22 eastern states. This development has also led competitors BNSF, owned by Berkshire Hathaway, and CSX to consider their merger options, according to Reuters sources. The primary regulatory obstacle to the merger is obtaining approval from the Surface Transportation Board (STB), the regulatory body responsible for approving M&As in the railways sector. In 2001, the STB implemented stricter merger regulations following a series of rail deals that reduced the number of major railroads from 36 before deregulation in 1980 to five. Union Pacific operates across 23 western states, providing essential freight services that connect communities and businesses to the global market. In 2024, Union Pacific announced plans to invest $3.4bn in infrastructure, rolling stock, and technology, as outlined in its capital plan. Norfolk Southern operates a freight network spanning 22 states and manages around seven million carloads each year, covering a wide range of products from agricultural goods to consumer items. "Union Pacific, Norfolk Southern explore potential merger" was originally created and published by Railway Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
4 hours ago
- Business
- Yahoo
Union Pacific, Norfolk Southern in Talks for $200B Rail Megamerger
Union Pacific (UNP, Financials) and Norfolk Southern (NSC, Financials) are in the last stages of talks to merge. If the merger goes through, it would make the first coast-to-coast freight railroad in the U.S. and potentially change the industry. The new business would connect Union Pacific's western routes to Norfolk Southern's eastern network. It would also make it easier for cargo to travel around the country by eliminating out transfers at big hubs like Chicago. According to sources, regulators are getting ready for not only this deal, but possibly a second one as BNSF and CSX look into their own merger options. The U.S. Surface Transportation Board is getting ready for what might be the biggest merger of railroads since the Canadian PacificKansas City Southern agreement in 2023. There is still no agreement, and both firms have problems to deal with, including as antitrust reviews, labor opposition, and worries about rates. Sources indicate that the Trump administration's more lenient position on mergers has made a transaction more possible. Shares of Union Pacific fell 4% on Thursday, while shares of Norfolk Southern fell a little. This article first appeared on GuruFocus.
Yahoo
14 hours ago
- Business
- Yahoo
Union Pacific and Norfolk Southern confirm advanced merger talks
Union Pacific and Norfolk Southern confirmed this morning that they are engaged in advanced merger discussions that would create the first U.S. transcontinental railroad. 'There can be no assurances as to whether an agreement for a transaction will be reached or as to the terms of any such transaction,' the railroads said. UP (NYSE: UNP) and NS (NYSE: NSC) said they do not intend to make additional comments or provide an update unless they determine that disclosure is required or otherwise appropriate. UP Chief Executive Jim Vena said he would decline to take questions about a potential merger during the railroad's earnings call this morning. But he did say the railroad industry cannot stand still. Any timeline on a merger would begin with a pre-notification ahead of a formal filing with the Surface Transportation Board. It's expected that the review process could last more than a year before a decision is rendered. Subscribe to FreightWaves' Rail e-newsletter and get the latest insights on rail freight right in your profits fall on lower revenue, higher costs First look: Weaker coal, carloads hit CSX earnings As merger talk heats up, deep bench will advise rail regulator Analysis: What a Union Pacific – Norfolk Southern merger would look like The post Union Pacific and Norfolk Southern confirm advanced merger talks appeared first on FreightWaves. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Malaysian Reserve
16 hours ago
- Business
- Malaysian Reserve
Norfolk Southern and Union Pacific Discussing Possible Merger
ATLANTA, July 24, 2025 /PRNewswire/ — Norfolk Southern Corporation (NYSE: NSC) and Union Pacific Corporation (NYSE: UNP) confirmed today that the companies are engaged in advanced discussions regarding a potential business combination. There can be no assurances as to whether an agreement for a transaction will be reached or as to the terms of any such transaction. Union Pacific and Norfolk Southern stated that they do not intend to make additional comments or provide an update on this matter unless and until they determine that disclosure is required or otherwise appropriate. About Norfolk SouthernSince 1827, Norfolk Southern Corporation (NYSE: NSC) and its predecessor companies have safely moved the goods and materials that drive the U.S. economy. Today, it operates a 22-state freight transportation network. Committed to furthering sustainability, Norfolk Southern helps its customers avoid approximately 15 million tons of yearly carbon emissions by shipping via rail. Its dedicated team members deliver approximately 7 million carloads annually, from agriculture to consumer goods. Norfolk Southern also has the most extensive intermodal network in the eastern U.S. It serves a majority of the country's population and manufacturing base, with connections to every major container port on the Atlantic coast as well as major ports across the Gulf Coast and Great Lakes. Learn more by visiting Cautionary Statement on Forward-Looking StatementsCertain statements in this press release are 'forward-looking statements' within the meaning of the 'safe harbor' provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements relate to future events or our future financial performance and involve known and unknown risks, uncertainties, and other factors that may cause the Company's actual results, levels of activity, performance, or the Company's achievements or those of the Company's industry to be materially different from those expressed or implied by any forward-looking statements. In some cases, forward-looking statements may be identified by the use of words like 'may,' 'will,' 'could,' 'would,' 'should,' 'expect,' 'anticipate,' 'believe,' 'project,' or other comparable terminology. While the Company has based these forward-looking statements on those expectations, assumptions, estimates, beliefs and projections it views as reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which involve factors or circumstances that are beyond the Company's control, including but not limited to: (i) changes in domestic or international economic, political or business conditions, including those impacting the transportation industry; (ii) the Company's ability to successfully implement its operational, productivity, and strategic initiatives; (iii) a significant adverse event on the Company's network, including but not limited to a mainline accident, discharge of hazardous material, or climate-related or other network outage; (iv) the outcome of claims, litigation, governmental proceedings, and investigations involving the Company, including those with respect to the Eastern Ohio incident; (v) the nature and extent of the Company's environmental remediation obligations with respect to the Eastern Ohio incident; (vi) new or additional governmental regulation and/or operational changes resulting from or related to the Eastern Ohio incident or otherwise; (vii) a significant cybersecurity incident or other disruption to the Company's technology infrastructure; and (viii) that any agreement with respect to a potential transaction with Union Pacific Corporation will be reached, that any potential transaction may or may not be consummated, and the timing, terms or conditions relating to any such potential transaction. These and other important factors, including those discussed under 'Risk Factors' in the Company Annual Report on Form 10-K for the year ended December 31, 2024, as well as the Company's subsequent filings with the SEC, may cause actual results, performance, or achievements to differ materially from those expressed or implied by these forward-looking statements. The forward-looking statements herein are made only as of the date they were first issued, and unless otherwise required by applicable securities laws, the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
Business Times
20 hours ago
- Business
- Business Times
US: S&P 500, Nasdaq hit new records despite big Tesla drop
[NEW YORK] The S&P 500 and Nasdaq edged up to fresh records on Thursday while the Dow retreated following a mixed round of corporate earnings that lifted Google parent Alphabet but battered Tesla. The tech-rich Nasdaq Composite Index led major indices, finishing 0.2 per cent higher at 21,057.96, a new record. The broad-based S&P 500 added 0.1 per cent at 6,363.35, also a record, while the Dow Jones Industrial Average dropped 0.7 per cent to 44,693.91. Alphabet climbed 0.9 per cent after reporting US$28.2 billion in quarterly profits as it touted new artificial intelligence investments. But Tesla slid 8.2 per cent as CEO Elon Musk warned of a rough patch for earnings following the elimination of a federal tax credit for electric vehicles. While earnings have taken center stage much of the week, stocks have also been buoyed by US President Donald Trump's trade deal with Japan and hopes for more agreements. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up 'Buyers are in control and there remains a lot of optimism about future trade deals,' said Adam Sarhan of 50 Park Investments. 'For now the market is choosing to look at the bullish side of the coin,' he said. 'Not the bearish side and not the neutral side.' But the Dow was weighed down by a 7.6 per cent drop in IBM and a 6.2 per cent fall in Honeywell International following earnings reports. Another Dow member, UnitedHealth International, fell 4.8 per cent after it disclosed that it was cooperating with US Department of Justice criminal and civil probes into the company's billing practices. Also lower was chemical company Dow Inc, which slumped 17.5 per cent as it announced it was slashing its dividend by 50 per cent as it reported an US$835 million quarterly loss. Dow said the move was needed while it manages its business amid 'weak macroeconomic conditions.' Union Pacific fell 4.5 per cent as it disclosed that it was in talks with fellow freight rail company Norfolk Southern on a possible merger. Norfolk Southern, which also issued a statement confirming the talks, fell 0.8 per cent. AFP
