Norfolk Southern and Union Pacific confirm merger talks

Norfolk Southern Corporation (NYSE: NSC) and Union Pacific Corporation (NYSE: UNP) confirmed they are engaged in advanced discussions regarding a potential business combination, according to a press release issued July 24.

The railroad companies stated there are no assurances that an agreement will be reached or regarding the terms of any potential transaction. Both companies indicated they do not intend to provide additional comments or updates unless they determine disclosure is required or appropriate.

Norfolk Southern operates a freight transportation network across 22 states and has been in operation since 1827. The company delivers approximately 7 million carloads annually and operates an intermodal network in the eastern United States with connections to major container ports on the Atlantic coast and ports across the Gulf Coast and Great Lakes.

The companies' press release included standard cautionary language about forward-looking statements, noting that various risks and uncertainties could affect any potential transaction, including that no agreement may be reached and that timing, terms, or conditions of any deal remain uncertain.

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