Union Pacific secures support from Canadian National for Norfolk Southern acquisition

1. 1Union Pacific (UNP) has finalized negotiations to win the backing of competitor Canadian National (CN) for its $85 billion acquisition of Norfolk Southern (NSC).
2. 2CN will gain the right to provide alternative service in regions where customer service options would be significantly reduced after the merger, and will also take over Norfolk Southern's small rail stakes in St. Louis and Kansas City.
3. 3BNSF, CPKC, and CSX remain strongly opposed to the merger, while the U.S. Surface Transportation Board (STB) has launched its review, requesting additional information by the end of this month under enhanced standards introduced in 2001.

Source The Wall Street Journal +1 · View original ↗

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