Union Pacific , the largest U.S. railroad operator, said on Thursday it is in advanced talks with rival Norfolk Southern , signaling that a deal to form a $200 billion coast-to-coast rail company could be close - and potentially trigger further consolidation among remaining freight rail giants.

Union Pacific Corp. (NYSE:UNP) on Thursday reported better-than-expected second-quarter 2025 earnings and revenue, driven by volume growth, core pricing gains, and record operational productivity. The railroad posted net income of $1.

Norfolk Southern Corporation (NYSE:NSC) saw its stock rise 3.4% following confirmation that it is in “advanced discussions” with Union Pacific Corporation (NYSE:UNP) about a possible merger. Meanwhile,