Ancora built its position in Norfolk Southern in 2023 and 2024. The post Activist investor to reap handsome return in Union Pacific – Norfolk Southern merger appeared first on FreightWaves.

When Union Pacific and Norfolk Southern announced their merger deal Tuesday to form “America’s first transcontinental railroad,” it puzzled some who recalled the golden spike driven in 1869 at Utah’s Promontory Summit. That last spike only connected two railroads from Omaha, Neb., to Sacramento, Calif.

Together, the two would create the first transcontinental freight rail in the United States and the largest freight rail network in the country