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Union Pacific to buy Norfolk in $85 billion mega U.S. railroad deal

Union Pacific said on Tuesday it would buy smaller rival Norfolk Southern in an $85 billion deal, to create the nation's first coast-to-coast freight rail operator and reshape the movement of goods from grains to autos across the country.If approved, the deal would combine Union Pacific's stronghold in the western two-thirds of the U.S. with Norfolk's 19,500-mile network that primarily spans 22 eastern states.This would mark the largest-ever buyout in the sector, merging Union Pacific, the bigge...

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