The ball is in Berkshire Hathaway (BRK.A) (BRK.B) CEO Warren Buffett’s court after Union Pacific (UNP) reached a deal Tuesday to buy Norfolk Southern (NSC) for $85B to create the first transcontinental railroad, Andrew Bary of Barron’s writes. The blockbuster deal raises the odds that Buffett’s Berkshire Hathaway, which owns the Burlington Northern Santa Fe railroad, will reach a deal with CSX (CSX) to create a second transcontinental railroad. Union Pacific and BNSF compete in the western U.S., while CSX and Norfolk Southern are the two big Eastern railroads, the publication notes.
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