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.

The merger would create the United States’ first coast-to-coast rail network, spanning 50,000 miles and 43 states.

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.