Union Pacific, Norfolk Southern
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Charleston’s claim to railroad fame comes into focus as Norfolk Southern Corp. considers a merger with Union Pacific that would form a transcontinental giant
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Sourcing Journal on MSNBNSF Tied to Possible CSX Takeover as US Rail Merger Chatter GrowsSpeculation follows reports of Union Pacific's pursuit to acquire Norfolk Southern, suggesting wider industry consolidation.
Union Pacific said on Tuesday it would buy smaller rival Norfolk Southern in an $85-billion deal to create the country's first coast-to-coast freight rail operator.
And while the third agreement – with Cincinnati New Orleans & Texas Pacific Railway, a unit of Norfolk Southern – has been in place since 1881, it’s not always been smooth sailing.
On Tuesday, Union Pacific, which operates mostly in the Western U.S., announced that it would acquire Norfolk Southern, which operates in the East, for $85 billion. The deal would create the largest freight rail network in the country,
Norfolk Southern (NYSE:NSC) is scheduled to announce Q2 earnings results on Tuesday, July 29th, before market open. The consensus EPS Estimate is $3.30 (+7.8% Y/Y) and the consensus Revenue Estimate is $3.