Union Pacific Confirms Merger Talks With Rival Norfolk Southern To Create A Transcontinental Railroad Behemoth
Synopsis
A Union Pacific-Norfolk Southern merger would be the largest such deal in the railroad sector, according to a Reuters report.
Union Pacific Corp. (UNP) announced on Thursday that it has kick-started merger talks with rival Norfolk Southern Corp. (NSC). The deal, if it goes through, would create a transcontinental railroad giant.
Union Pacific’s shares fell over 2% in Thursday’s opening trade, while Norfolk Southern’s stock gained more than 3% at the time of writing.
A Union Pacific-Norfolk Southern merger would be the largest such deal in the railroad sector, according to a Reuters report.
UNP stock is down 0.32% year-to-date, while the NSC stock is up more than 22% for the year.
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