US EditionUnion Pacific, Norfolk Shareholders Approve $85B Merger to Create First Coast-to-Coast U.S. Rail Network
Shareholders approved the $85 billion deal combining 50,000 miles of track across 43 states into the first coast-to-coast freight railroad, pending regulatory review.
- Shareholders of Union Pacific and Norfolk Southern approved an $85 billion merger to create the first coast-to-coast rail network in the U.S., with approximately 99% in favor.
- The U.S. Surface Transportation Board must approve the merger before it can be finalized.
- Union Pacific CEO Jim Vena stated that shareholders recognize the merger's potential for service, growth, and innovation.
- Norfolk Southern shareholders will receive one Union Pacific share and $88.82 in cash for each share, valuing Norfolk Southern at about $320 per share.
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44 Articles
Union Pacific, Norfolk Southern shareholders approve merger; STB application up next
Shareholders of Norfolk Southern Corp. and Union Pacific voted Nov. 14, 2025, to approve the agreement that allows UP to buy and absorb NS in a deal valued at $85 billion which would create the first coast-to-coast railroad. It must be approved by the federal Surface Transportation Board, and the application could be filed as soon as December 2025, in hopes it can be reviewed and approved by early 2027.
Union Pacific, Norfolk Southern shareholders approve $85B merger
Union Pacific Shareholders Approve $85 Billion Merger With Norfolk Southern
A mega-merger is moving forward at full steam. Union Pacific Corporation shareholders approved a $85 billion merger with Norfolk Southern on Nov. 14, with 99.5% of shareholders in favor of the deal. “We appreciate our shareholders’ support in reaching this important milestone on our path to building America’s first coast-to-coast railroad,” Union Pacific CEO Jim Vena said in a statement published on Nov. 14. The merger will form America’s first …
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