Union Pacific Shareholders Approve $85 Billion Rail Merger With Norfolk Southern

A Union Pacific freight train travels in Hutto, Texas. Brandon Bell/Getty ImagesUnion Pacific Corp. and Norfolk Southern shareholders on Nov. 14 voted nearly unanimously to approve the railroads’ proposed $85 billion merger, paving the way to create the country’s first coast-to-coast railroad.The merger would also create the nation’s largest rail operator by track miles and freight volume. More than 99 percent of both railroads’ shareholders voted in favor of the merger, and both rail operators’ boards unanimously approved the agreement. The merger is contingent upon review and approval by the U.S. Surface Transportation Board, but is expected to close in early 2027.