The U.S. may get its first coast-to-coast rail network after shareholders of Union Pacific and Norfolk Southern backed the railroads’ proposed $85 billion merger, according to the Associated Press.
About 99% of the companies’ shareholders voted in support of what would be the largest rail merger in history on Friday. The U.S. Surface Transportation Board would still have to approve the deal.
Both companies said the merger would enhance service, growth and innovation.
The merger application is expected to be finalized late this month or in early December and will be followed by a review process.
