Union Pacific weighs potential takeover of a rival, Semafor reports

Union Pacific (UNP) has tapped investment bankers at Morgan Stanley to help it explore a takeover of a rival, Semafor’s Rohan Goswami reports, citing people familiar with the matter. While the target competitor could not be learned, CEO Jim Vena has spoken publicly about the idea of a transcontinental railroad, which would mean combining his western network with an East Coast carrier, such as CSX (CSX) or Norfolk Southern (NSC), the author notes.