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Union Pacific in mega US railroad merger talks with rival Norfolk
OMAHA, NEBRASKA, JUL 24 – Union Pacific's second-quarter profit rose to $1.8 billion with operating revenue up 2%, while merger talks with Norfolk Southern could reshape U.S. freight rail competition.
- In Omaha, Nebraska, Union Pacific reported Thursday a second quarter profit of $1.8 billion, highlighting its strong financial performance.
- Last week, sources told The Associated Press that merger discussions began between Union Pacific and Norfolk Southern in the first quarter of this year, aiming to connect East and West Coasts.
- Earnings data shows Union Pacific's second quarter profit of $1.8 billion, with per-share earnings of $3.03, beating last year's $2.71 and revenue rising 2%.
- Market reaction was mixed, with railroad shares rising amid regulatory debate; the outcome remains uncertain.
- Under the 2001 rules, any major rail merger must show it will enhance competition and serve the public interest, and two years ago the U.S. Surface Transportation Board approved the $31 billion CPKC deal.
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The Tribune-DemocratUnion Pacific, Norfolk Southern confirm merger talks to create coast to coast railroad
Union Pacific and Norfolk Southern are confirming they’re in merger talks that would create North America’s largest railroad, stretching service from East to West Coasts. The Associated Press reported last week that the companies were discussing a tie-up but neither…
Union Pacific and Norfolk Southern have confirmed they are in "advanced" merger talks that will create a single U.S. railroad with service extending from the East Coast to the West Coast.
The forces of FOMO are strong in the US railroad industry
Liz’s viewWarren Buffett once quipped that CEOs and M&A are like teenagers and sex: Neither needs much encouragement. There are no Harvard Business School endowed chairs for deals done.The forces of FOMO are especially intense in what I’ll call “regulatory last-call” industries. It’s late at the bar, the pickings are slim, and the bouncer is standing cross-armed by the door. These are heavily regulated industries that are immune to startup compe…
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