Canadian Pacific Railroad, which operates rail service in Canada and segments of the Midwest and Southern United States, announced it will end its efforts to purchase its rival Norfolk Southern.

Norfolk Southern responded negatively to the almost $30 billion purchase, saying it did not think regulators would approve of the deal. Ownership of Norfolk would have expanded Canadian Pacific’s rail-reach to the East Coast, the Midwest and the South. Norfolk Southern is based out of Norfolk, Virginia.

Norfolk Southern Corporations stock price dipped almost 2 percent in trading before the opening bell on Monday. Canadian Pacific Shares were not affected by the announcement.