(Reuters) -Railroad operator Union Pacific is exploring a deal to acquire rival Norfolk Southern, the Wall Street Journal reported on Thursday, citing people familiar with the matter.
Norfolk’s shares rose 2.7% in extended trading.
The Journal said the talks were at an early stage and there was no guarantee that they would result in any deal or regulatory signoff.
Union Pacific and Norfolk Southern did not immediately respond to Reuters requests for comment.
The news comes a day after Semafor reported that Union Pacific was working with Morgan Stanley to explore an acquisition of a rival.
Reuters could not immediately confirm either reports.
(Reporting by Utkarsh Shetti in Bengaluru; Editing by Devika Syamnath)
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