Norfolk Southern to acquire Cincinnati Southern Railway for $1.6bn.

Norfolk Southern, a rail transportation company, agreed to acquire Cincinnati Southern Railway, an approximately 337 mile railroad that runs from Cincinnati, Ohio to Chattanooga, Tennessee, for $1.6bn. "The Cincinnati Southern Railway is a critical artery linking the Midwest and the Southeast and plays an important role in our powerful network that serves more than half the US population. This agreement sets the framework for Norfolk Southern to own a core line in our network in perpetuity, allowing us to advance our strategic objectives of improving service, enhancing productivity, and creating an even stronger platform for accelerated growth, all while eliminating uncertainty around future control of the line and lease costs," Alan H. Shaw, Norfolk Southern President and CEO.