Under the terms of the agreement, Union Pacific will acquire Norfolk Southern in a stock and cash transaction, implying a value for Norfolk Southern of $320 per share based on Union Pacific’s ...

Union Pacific wants to buy Norfolk Southern in a $85 billion deal that would create the first transcontinental railroad in the U.S.

Union Pacific, a freight rail giant, announced on Tuesday that it had reached an agreement to acquire Norfolk Southern, another large railroad, in a deal worth $85 billion.