US rail mega-merger looks on track

Railroad operator Union Pacific is in talks to create the largest rail operator in the US, say Lauren Thomas and Ben Glickman in The Wall Street Journal. The plan is for Union Pacific, valued at around $140bn, to buy Norfolk Southern, worth $60bn. The deal would be the biggest corporate transaction this year, and would also create the first coast-to-coast railroad in the US. However, if it goes ahead, it is likely to face “serious scrutiny” from regulators, many of whom will probably be concerne...