Union Pacific-Norfolk Southern Merger: US Rail Infrastructure Boost?

Union Pacific and Norfolk Southern shareholders vote next week on their $85 billion **merger**, potentially creating a new transcontinental **railroad**, pending regulatory approval.

Union Pacific-Norfolk Southern Merger: US Rail Infrastructure Boost?
November 9, 2025 5:54 am
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Introduction

Union Pacific Railroad and Norfolk Southern Railway shareholders will vote next week on Union Pacific’s proposed acquisition of Norfolk Southern, a deal valued at $85 billion. The acquisition, if approved, would create the first transcontinental railroad in the United States.

Shareholder Meetings

Shareholders of Union Pacific Railroad and Norfolk Southern Railway are scheduled to hold special meetings next week to vote on the proposed acquisition. These meetings will focus on the merger agreement as detailed in the companies’ joint proxy statement and prospectus.

Meeting Date and Filing

The meetings are set for November 14. This date was confirmed in a November 6 filing with the U.S. Securities and Exchange Commission.

Merger Agreement

The boards of Union Pacific and Norfolk Southern agreed to the proposed merger on July 28. The deal is valued at $85 billion.

Regulatory Approval

Besides shareholder approval, the proposal requires review and approval by the Surface Transportation Board (STB). Union Pacific officials have indicated their intention to file an application with the STB in the coming weeks.

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Conclusion

Union Pacific Railroad and Norfolk Southern Railway shareholders will vote on the proposed acquisition, with the Surface Transportation Board also needing to approve the deal. The merger agreement was reached on July 28 and is valued at $85 billion.

Company Summary

Union Pacific Railroad: Union Pacific Railroad is involved in a proposed acquisition of Norfolk Southern Railway, which would create a transcontinental railroad.

Norfolk Southern Railway: Norfolk Southern Railway is involved in a proposed acquisition by Union Pacific Railroad, which would create a transcontinental railroad.

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