Union Pacific today confirmed it is in advanced discussions with Norfolk Southern Railway regarding a merger. “There can be no assurances as to whether an agreement for a transaction will be reached or as to the terms of any such transaction,” a UP press release stated. Omaha-based Union Pacific has a market value of $140 billion, while Atlanta-based Norfolk Southern is valued at $60 billion. If the deal survives regulatory scrutiny, it would create the first coast-to-coast railroad in U.S. history.
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