Railroads to Merge for $85 Billion

Railroads to Merge for $85 Billion

Union Pacific will buy smaller rival Norfolk Southern in a deal worth $85 billion. Union Pacific also says this would create the first coast-to-coast freight rail operator in the U.S. Reuters reports if approved, the deal would be the largest buyout in the sector’s history. It would combine Union Pacific’s tracks in the western two-thirds of the U.S. with Norfolk’s 19,500-mile network covering 22 eastern states. The two railroads would have a co…