Norfolk Southern Falls On Union Pacific Buyout
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A merger between Norfolk Southern and Union Pacific would create a coast-to-coast rail operator, something that doesn’t exist in the US.
Union Pacific , the largest U.S. railroad operator, said on Thursday it is in advanced talks with rival Norfolk Southern , signaling that a deal to form a $200 billion coast-to-coast rail company could be close - and potentially trigger further consolidation among remaining freight rail giants.
The US railroad industry has sought consolidation for decades. For Union Pacific Corp. and CEO Jim Vena, the stars are finally aligning.