ºÚÁϳԹÏÍø

Union Pacific wants to buy Norfolk Southern in an $85 billion deal that would create the first transcontinental railroad.  That deal faces a lengthy review by the Surface Transportation Board.

Global deal values have topped $1 trillion in a third quarter for only the second time ever, thanks to transactions like the Sept. 29 $55 billion take-private of video game maker Electronic Arts.

The companies will evaluate regulatory issues and cost savings of a deal, according to a statement. The accord doesn’t assure a transaction will be proposed.

Last week, US Foods urged Performance Food to accept its invitation to explore a merger.

Analysts have speculated that a Union Pacific-Norfolk Southern tie-up could leave the next-biggest companies in the industry — BNSF and CSX — to at least consider their own combinations.

This year started off with 250 deals during the first quarter, and then 276 deals in the second quarter, despite market conditions.

Kroger is fighting back against a lawsuit brought by Albertsons over its failed $24.6 billion takeover of the rival grocery chain.

Pentwater, the third-largest investor in U.S. Steel, said it opposes moves by activist investor Ancora Holdings Group to shake up the board of the American steelmaker.

Albertsons is giving up on its merger with Kroger and it is suing the grocery chain, saying it didn’t do enough to secure regulatory approval for the $24.6 billion agreement.

FreightVana believes the deal will boost its position in the power-only brokerage segment. Loadsmith provides power-only and standard freight brokerage.