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flag Shareholders approve a $85 billion Union Pacific-Norfolk Southern merger, pending regulatory approval, to create a single transcontinental railroad.

flag Shareholders of Union Pacific and Norfolk Southern have approved a proposed $85 billion merger, with about 99% in favor, creating the first coast-to-coast transcontinental railroad in the U.S. flag The deal, which would combine the two railroads’ networks across 43 states, aims to improve freight efficiency, reduce transit times, and enhance service by eliminating handoffs between carriers. flag Union Pacific will issue one share and $88.82 in cash for each Norfolk Southern share, valuing NS at about $320 per share. flag The merger still requires final approval from the Surface Transportation Board, which will review concerns over competition, shipping costs, and market concentration. flag The transaction is expected to close by early 2027.

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