Union Pacific Considering a Norfolk Southern Buyout
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Union Pacific Corp. is exploring an acquisition of Norfolk Southern Corp., setting up what could rank as the largest railroad deal ever, according to people familiar with the matter.The talks are at an early stage and there’s no guarantee the companies will reach a deal,
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Stocktwits on MSNNorfolk Southern Stock Rises In Extended Trading After Report Flags Railroad Operator As Bigger Rival Union Pacific’s Buyout TargetNorfolk Southern (NSC) stock gained 4.7% in extended trading on Thursday after a report said that Union Pacific is holding talks with the company over a possible buyout. The after-hours surge came after the 3.
Following the development, Bank of America upgraded CSX Corporation ( CSX) to a Buy rating from Neutral, and boosted its price objective on Norfolk Southern ( NSC) to $350 from $290 due to the increased potential for M&A discussions.