Union Pacific picks up Canadian National's support for its plan to acquire Norfolk Southern railroad

Union Pacific secured Canadian National's support for its $85 billion plan to acquire Norfolk Southern railroad, a deal that would create the first transcontinental railroad and consolidate market power. The merger faces opposition from BNSF, CPKC, and CSX but includes concessions like CN gaining access to key tracks and rail yards to mitigate competition concerns. The U.S. Surface Transportation Board is beginning its review under strict 2001 merger standards.