Union Pacific Eyes Norfolk Southern Deal
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Union Pacific is working with Morgan Stanley investment bankers to provide guidance on the potential acquisition of another Class I railroad, the online publication Semafor reported on Wednesday, citing people familiar with the matter.
Executives and insiders have speculated for months that a Trump presidency could usher in a fresh wave of rail consolidation.
"This is what the beginning of a new bull market looks like," Morgan Stanley's CIO said, adding that earnings look resilient and stocks should rally.
Union Pacific appears to be using a familiar playbook that large, publicly traded companies trot out when considering mergers and acquisitions: Send up trial balloons and see how they fly. These trial balloons let management gauge market reaction,