Union Pacific Corp filed an 8-K detailing their merger agreement with Norfolk Southern Corp that was entered on July 28, 2025, and plans to hold shareholder meetings on November 14, 2025, to discuss the pending mergers. The merger involves the consolidation of companies, with projected values suggesting Norfolk Southern's adjusted EBITDA at $6,663 million and Union Pacific's at $13,664 million as of January 1, 2027.