Union Pacific , the largest U.S. freight railroad operator, is exploring a possible acquisition of Norfolk Southern to create a $200 billion coast-to-coast rail network, a person familiar with the matter said.
Railroad operator Union Pacific is exploring a deal to acquire rival Norfolk Southern , the Wall Street Journal reported on Thursday, citing people familiar with the matter.
Shares of railroad operators CSX (CSX) and Norfolk Southern (NSC) climbed Thursday on a report suggesting they might be targets of a takeover bid by bigger rival Union Pacific (UNP).
Union Pacific sees an opening under President Trump to form a coast-to-coast network.
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