Norfolk Southern reports Q2 2025 earnings with $3.1B revenue, 62.2% operating ratio, and confirms historic $85B merger talks with Union Pacific to create transcontinental railroad.

The Union Pacific and Norfolk Southern corporations announced Tuesday the companies will merge to create America's first transcontinental freight railroad.

Union Pacific Corp. agreed to acquire Norfolk Southern Corp. in a cash-and-stock transaction valued at $85 billion, forming a transcontinental rail