A slightly larger corporate arrangement, as railway companies Union Pacific and Norfolk Southern are planning a merger. The combined market value of the companies is approximately $196 billion at current exchange rates.
https://edition.cnn.com/2025/07/29/business/union-pacific-norfolk-southern-deal
North American freight railways are currently dominated by six companies: Union Pacific and BNSF, which compete in the western half of the United States; CSX and Norfolk Southern, which compete in the eastern half of the United States; and Canadian National Railway and Canadian Pacific Kansas City, which compete in Canada and on north-south routes in the United States.
Here are maps of the rail networks of all six companies to give an idea of the situation:
Union Pacific (the larger party in the merger news):
Norfolk Southern (the smaller party in the merger news):
BNSF (owned by Berkshire Hathaway and a competitor of Union Pacific):
CSX (a competitor of Norfolk Southern):
Canadian National:
Canadian Pacific Kansas City:
