News
Union Pacific, Norfolk Southern confirm merger discussions
Talks are underway between two major U.S. class one railroads for a possible merger.
In a statement, Union Pacific Railroad and Norfolk Southern say “The companies are engaged in advanced discussions regarding a potential business combination.” The railroads also say, “There can be no assurances as to whether an agreement for a transaction will be reached or as to the terms of any such transaction.”
If the railroads do agree to terms, any merger or acquisition would need approval from federal regulators including the Surface Transportation Board.
It was two years ago when Canadian Pacific and Kansas City Southern combined to form CPKC. Another railroad merger is reportedly being discussed between Burlington Northern Santa Fe and CSX. BNSF has not commented on possible merger talks, but Joe Hinrichs from CSX told CNBC that CSX is proud of their competitive position and excited about the opportunity to participate in any conversation that creates value for their shareholders. He did not confirm or deny merger discussions have taken place.
Both Union Pacific and Norfolk Southern said the companies will not make additional comments on the transaction unless disclosure is required or otherwise appropriate.
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Good jobs in every NS state will disappear. Places like the Juanita Shops in PA will be closed by UP.
UP, like always, will slash every NS job they can. Railroad jobs are good paying with solid benefits. This is bad for workers and anticompetitive for the nation.
UP will consolidate and eliminate thousands of good jobs in PA, OH, IN, WV, VA, MO, VA, and KY. Great paying blue and white collar jobs will disappear. This proposal is Un-American and anticompetitive.
Write your Senators and Representatives.