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Signals & Switches · Apr 22, 2026

Et Tu, Donald?

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The political bet just failed for United. What does that mean for Union Pacific/Norfolk Southern merger?

(This article was written with the help of AI, but all editing, analysis, commentary, & opinion are mine.)

Signals & Switches | Merger Watch

by Paul Tonsager

Full disclosure: I have publicly supported the UP-NS merger many times, in the Journal of Commerce, in this newsletter, and at industry conferences. I hold no equity position in either carrier. I adv…

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