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

Union Pacific has secured Canadian National's support for its $85 billion acquisition of Norfolk Southern railroad, a deal that would create the first transcontinental railroad in the U.S. The merger faces opposition from BNSF, CPKC, and CSX, but Canadian National will back it after receiving concessions, including access to key tracks and rail yards. The U.S. Surface Transportation Board is reviewing the merger under strict standards, with concerns about market concentration and competition.