Union Pacific, Norfolk Southern
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In reporting second-quarter 2025 financial results that showed improvements in revenue, net income, volume and operating ratio, Union Pacific confirmed what has been widely speculated for the past few
However, just two years ago, the STB approved the first major rail merger in more than two decades. In that deal, which was supported by big shippers, Canadian Pacific acquired Kansas City Southern for US$31-billion to create the CPKC railroad.