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Union Pacific, America’s largest publicly traded railroad, is working with investment bankers at Morgan Stanley to explore an acquisition of a rival, according to people familiar with the matter.
Its target couldn’t be learned, but Union Pacific CEO Jim Vena has talked publicly about the virtues of a transcontinental railroad, which would mean combining his western network with one of two East Coast carriers: CSX or Norfolk Southern. Either deal, should Union Pacific move ahead, would be large — CSX is valued at $62 billion, Norfolk Southern at $58 billion — and create the country’s first coast-to-coast carrier.
semafor.com - Union pacific has hired bankers for possible railroad bid 