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Union Pacific & Norfolk Southern announce deal
The Union Pacific Railroad has announced plans to acquire Norfolk Southern Railroad, creating the first U.S. transcontinental rail system.
The two railroads expect to file their application with the Surface Transportation Board within six months. They will have to describe how the combined rail network will provide safer, faster, and more reliable service and increased competition. If approved, the combined railroad system will connect 43 states and more than 50-thousand route miles and nearly 100 ports.
The proposed deal has Union Pacific paying $320 dollars per share of Norfolk Southern stock plus cash. The railroads expect to close the deal in early 2027. The Board of Directors of both Union Pacific and Norfolk Southern unanimously approved the transaction.
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