Union Pacific Corporation

“products like our new Louisville service in conjunction with UP”

Norfolk Southern launched a new Louisville interline service in conjunction with Union Pacific to enhance competitiveness.

“we are working closely with UP to include the additional information requested by the STB and submit an augmented application.”

Norfolk Southern is working with merger partner Union Pacific to resubmit their STB application for the proposed transcontinental combination.

“We recently advised Union Pacific's $85 billion acquisition of Norfolk Southern, the largest announced deal of 2025 so far.”

Wells Fargo cites advising Union Pacific on its $85B acquisition of Norfolk Southern as evidence of winning larger, more complex M&A mandates. Read-through: Union Pacific is pursuing a landmark acquisition.

“When I think about service from the West Coast into the Southeast, I think about UP and NS utilizing the Meridian Speedway as the fastest, shortest route between those 2 regions, period.”

NS highlights its existing UP interline routing via the Meridian Speedway as a differentiated West-Coast-to-Southeast service, reinforcing the strategic fit ahead of the merger.

“As we make progress towards getting approval for the proposed merger with Union Pacific, our focus remains squarely on ensuring momentum on safety and service while executing on our strategy and delivering for our customers.”

Norfolk Southern's proposed merger with Union Pacific is central to its strategy, aiming to create a coast-to-coast network; approval is pending regulatory review.

“In a separate release issued today, Norfolk Southern and Union Pacific announced an agreement to combine in a stock and cash transaction to create America's first transcontinental railroad. Under the terms of the agreement, Norfolk Southern shareholders will receive 1.0 Union Pacific common share and $88.82 in cash for each share of Norfolk Southern common stock.”

Norfolk Southern agreed to be acquired by Union Pacific in a stock-and-cash deal valuing NSC at $320/share ($85B enterprise value), forming what the companies call America's first transcontinental railroad.

“We're customers of both those railroads, but the way Aggregates shipments move, you're not going to co-mingle those. So I don't see much of an impact for us. In other words, what we ship now, we're not a long hauler. So we're shipping to a market which is within each one of those railroads not changing carriers.”

Vulcan describes itself as a rail customer of Union Pacific and does not expect the proposed Union Pacific-Norfolk Southern merger to materially affect its shipping operations.

“We have a lot of experience, obviously, with the UP because we probably send more on UP than any other railroad. Their efficiency has been very good.”

Union Pacific is Martin Marietta's largest rail shipper of stone (and a ballast customer); management praises UP's efficiency amid the proposed UP-Norfolk Southern merger.

“We still ship with Canadian Pacific into Mexico and we ship with the FXE into Mexico, both northbound and southbound.”

Ferromex (FXE) is an interline partner UP hands off Mexico-bound traffic to in both directions, an ongoing cross-border rail interchange relationship.

“if you take a look at the way we handled the Canadian Pacific merger with Kansas City, I think we've done an excellent job of growing our business in and out of Mexico even though they have a seamless railroad going in”

UP frames Canadian Pacific Kansas City as a competitor whose single-line Mexico railroad UP has competed against effectively, growing its own cross-border Mexico business.