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July 24, 2026

UP gains support for big rail merger

OMAHA, Neb. (AP) — Union Pacific struck a deal with Canadian National to secure that rival's support for its proposed $85 billion acquisition of Norfolk Southern railroad.

The deal to create the nation's first transcontinental railroad has been divisive within the industry because it would concentrate so much market power in the hands of one company that would control more than 40% of all rail traffic and reduce the number of major freight railroads in the United States down to five.


 
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