Mergers News Updates

The CEO of freight rail operator CSX is focused on generating returns from improved efficiency and performance — but he’s also open to merger prospects as industry rivals consolidate.

Norfolk Southern's quarterly profit slipped 12% amid the uncertain economy as well as unusual costs related to its efforts to merge with Union Pacific in an $85 billion deal.

Echo Global Logistics will buy third-party logistics provider ITS Logistics for an undisclosed sum from private equity firm GHK Capital Partners, the companies said Jan. 21.

Katie Farmer, BNSF’s CEO, said the industry should question whether it’s an “accurate premise” that Union Pacific’s proposed takeover of Norfolk Southern will lead eventually to growth in shipping volume.

The transportation sector experienced a slowdown in merger and acquisition activity in 2025 amid ongoing headwinds and market uncertainty, according to a report by Tenney Group.

CSX, BNSF Railway, Canadian Pacific Kansas City Southern and Grand Trunk Railroad filed requests last week that the Surface Transportation Board reject Union Pacific’s application.

The move comes less than one month after Richmond, Va.-based PFG and US Foods called off talks for a planned merger that would have reshaped the food service carrier arena.

The assessment from PwC analysts came after a 2025 that already saw buyers focused on subsectors offering defensible growth, operating efficiency and exposure to high-barrier markets.

The two large unions say a merger would increase safety risks, raise shipping rates and consumer prices, and cause significant disruptions.

More than 60 trade associations and chambers of commerce submitted a letter to the Surface Transportation Board last week opposing Union Pacific's proposed acquisition of Norfolk Southern.