Union Pacific, Norfolk Southern
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Two of the largest US railroads, Union Pacific and Norfolk Southern, announced on Tuesday a plan to combine in a $72 billion deal that would create America’s first transcontinental freight railroad.
BNSF Railway has hired Goldman Sachs and CSX Corp is in talks to bring on financial advisers, as rival Union Pacific’s interest in acquiring Norfolk Southern sparked a wave of deal preparations that could reshape the U.
CSX Corp. stock is up on reports that Union Pacific is interested in buying the Jacksonville-headquartered railroad company. CSX Corp.’s stock rose to its highest level of the year July 17 after a report that Union Pacific Corp. is seeking to buy one of the two major eastern railroads, CSX or Norfolk Southern Corp.