Union Pacific To Acquire Norfolk Southern

Union Pacific wants to buy Norfolk Southern in an $85 billion dollar deal that would create the first transcontinental railroad in America.  According to the Associate Press, the proposed merger, which was announced today, would combine Union Pacific’s vast railroad in the West, with Norfolk’s rail system in the East.  Reportedly, if the deal is approved, the two remaining major U.S. railroads, CSX and BNSF, will face pressure to merge as well.  The board of directors with both companies have approved the transaction, which is subject to Surface Transportation  Board review and approval.  Both companies plan to file their application with the Surface Transportation Board within six months, and  are hoping to close the deal by early 2027.