Union Pacific acquires Norfolk Southern for $85 billion, transforming into a railroad titan

Railroad company Union Pacific will buy Norfolk Southern in a cash and stock transaction valued at $85 billion, combining two of the largest rail operators in the nation.

The merger will combine Union Pacific’s Western, Midwestern, and Southern railroad portfolio with Norfolk Southern’s extensive East Coast network. As part of the deal, Norfolk Southern shareholders will obtain one Union Pacific share and $88.82 in cash for each Norfolk share.