Union Pacific strikes $85B deal to buy rival Norfolk that would create US' first coast-to-coast rail operator
1. Union Pacific plans $85 billion acquisition of Norfolk Southern. 2. Merged company will have a combined value of $250 billion. 3. Deal expected to unlock $2.75 billion in annual synergies. 4. Regulatory scrutiny anticipated due to job and service concerns. 5. Potential consolidation could reduce Class I railroads to four.