Union Pacific to Buy Norfolk in $85 Billion Mega US Railroad Deal

Union Pacific said on Tuesday it would buy smaller rival Norfolk Southern in an $85 billion deal, to create the nation's first coast-to-coast freight rail operator and reshape the movement of goods from grains to autos across the country.

If approved, the deal would combine Union Pacific's stronghold in the western two-thirds of the U.S. with Norfolk's 19,500 mile network that primarily spans 22 eastern states.

The two railroads are expected to have a combined enterprise value...

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