Topline
Union Pacific Railroad has secured a merger agreement to acquire rival rail company Norfolk Southern for $85 billion, the company announced Tuesday, setting the stage for the establishment of the first transcontinental railroad in the U.S.
The merger was announced Tuesday. (Photo by Brandon Bell/Getty Images)
Key Facts
The rail companies will combine in an $85 billion stock and cash merger, with Norfolk Southern’s debt accounting for $13 billion of the cost.
The combined company will be worth over $250 billion, according to a statement.
This is a developing story. Check back for updates.