Union Pacific Eyes Norfolk Southern Deal
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CSX Corp. stock is up on reports that Union Pacific is interested in buying the Jacksonville-headquartered railroad company. CSX Corp.’s stock rose to its highest level of the year July 17 after a report that Union Pacific Corp. is seeking to buy one of the two major eastern railroads, CSX or Norfolk Southern Corp.
Union Pacific is working with Morgan Stanley investment bankers to provide guidance on the potential acquisition of another Class I railroad, the online publication Semafor reported on Wednesday, citing people familiar with the matter.
BNSF Railway and Union Pacific ( NYSE: UNP) have networks that connect the West Coast to the central and Midwest regions but do not, by themselves, offer uninterrupted coast-to-coast coverage. Meanwhile,
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