Csx Corp

Union Pacific's Big Boy 4014 drew 117,000 visitors in Pennsylvania, but the 14.8% merger spread with Norfolk Southern indicates investor doubt about the deal's closure.

Union Pacific's Big Boy 4014 steam locomotive draws crowds in Pennsylvania, highlighting the $85 billion merger with Norfolk Southern as investors eye a 12.9% discount to the deal's implied value.

Union Pacific may drop its $85 billion Norfolk Southern merger if regulators require major line sales or trackage rights. The STB is reviewing the revised application.