10:16 AM EDT, 07/28/2025 (MT Newswires) -- (Updates with statement from Norfolk Southern ( NSC ) in the third paragraph.)

Union Pacific ( UNP ) may reach an agreement early this week to acquire Norfolk Southern ( NSC ) in what would be the largest rail industry deal ever, Bloomberg reported Saturday, citing people familiar with the matter.

The potential transaction is expected to include both cash and stock, though final terms and timing could change, the report said.

Norfolk Southern ( NSC ) told MT Newswires it had no additional comments beyond the July 24 statement where the companies confirmed they were in "advanced" talks about a potential merger.

Union Pacific ( UNP ) did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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