Rail

Union Pacific Chief Says $85B Norfolk Southern Deal Will Clear Regulators

Union Pacific CEO Jim Vena expressed 99.99% confidence that regulators will approve his company's $85 billion acquisition of Norfolk Southern. Labor groups, agricultural interests and rival railroads oppose the deal. Vena stated the merged carrier would deliver freight 24 to 48 hours faster by eliminating interchange delays between western and eastern U.S. networks. The combined railroad would operate approximately 50,000 miles of track and compete more aggressively against trucking through improved pricing and efficiency. The Surface Transportation Board must ultimately approve the transaction. The Stop the Rail Merger Coalition warns the deal would concentrate nearly half of national rail traffic under single company control, threatening farmers, manufacturers and supply chain stability. President Trump previously signaled support for the combination.