"Two major rail operators have taken themselves out of the merger game that has gripped the industry for the past month, reshaping the competitive landscape and raising the regulatory stakes for Union Pacific's proposed $85 billion tie-up with Norfolk Southern. Canadian Pacific Kansas City joined Warren Buffett's BNSF Railway on Tuesday in publicly rejecting participation in any near-term rail industry consolidation...” (Sabrina Valle, 2025)
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Valle, Sabrina. (2025, August 26th) Canadian Pacific joins Buffett in rejecting railroad consolidation, narrowing merger prospects. Available from Reuters: https://www.reuters.com/world/americas/canadian-pacific-joins-buffett-rejecting-railroad-consolidation-narrowing-merger-2025-08-26/