However, just two years ago, the STB approved the first major rail merger in more than two decades. In that deal, which was supported by big shippers, Canadian Pacific acquired Kansas City Southern for US$31-billion to create the CPKC railroad.

Union Pacific Railroad confirmed it is in “advanced discussions” about a possible merger with Norfolk Southern Railway, CEO Jim Vena told analysts during a July 24 earnings call. “There are no assurances that we'll reach an agreement,

There is precedent in the potential merger after Canadian Pacific joined forces with Kansas City Southern in a $31 billion deal in 2023.