OMAHA, Neb. (AP) — Shareholders of Union Pacific and Norfolk Southern backed the railroads’ proposed $85 billion merger to create the nation’s first coast-to-coast rail network.
Roughly 99% of both railroads’ shareholders voted to support the largest rail merger in history Friday, but the U.S. Surface Transportation Board must still approve it before the deal can be completed.
Union Pacific CEO Jim Vena said, “Our shareholders see the value and understand this merger will unlock new opportunities to enhance service, growth and innovation.”…