Union Pacific to acquire Norfolk Southern for $85bn.

Union Pacific, a freight-hauling railroad, offered to acquire Norfolk Southern, a provider of rail transportation services, for $85bn. "This combination is transformational, enhancing the best freight transportation system in the world – it is a win for the American economy, it is a win for our customers, and it is a win for our people. It builds on President Abraham Lincoln’s vision of a transcontinental railroad from nearly 165 years ago and advances our safety, service and operational excellence strategy. I am confident this historic transaction will enhance competition to benefit customers, communities, and employees while delivering shareholder value," Jim Vena, Union Pacific CEO.