Union Pacific pursues $85 billion merger with Norfolk Southern
UNP Union Pacific Corp
$276.61 -0.16%
View chart & analysis → - 1Union Pacific aims to build the first transcontinental railroad in the U.S. by acquiring Norfolk Southern, including 50,000 miles of track spanning nearly every state.
- 2CEO Jim Vena expressed 99.99% confidence regarding merger approval.
- 3The Stop the Rail Merger Coalition argued that if the merger is approved, nearly half of the nation's rail freight would be under the control of a single company.
So what's the key point?
Union Pacific is planning to buy Norfolk Southern to create a railroad connecting the entire United States. If this merger is permitted, one company will manage nearly half of the country's rail freight.
Source Fox Business +1 · View original ↗
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