Reported 1 day ago
The largest railroad union in the U.S., SMART-TD, announced its support for Union Pacific's $85 billion acquisition of Norfolk Southern, reversing its earlier opposition. Initially concerned about job security and competition, union leaders now assure their members of job protection post-merger. This merger could create the first coast-to-coast freight rail network in the U.S. and represents the largest railroad acquisition in history. Regulatory approval is anticipated, especially in the current political climate, which could present challenges for competitors like CSX.
Source: YAHOO