US railroads seek approval for $85 billion merger

WASHINGTON, April 30 (Reuters) - Union Pacific UNP.N and Norfolk Southern NSC.N on Thursday submitted a revised merger application with the Surface Transportation Board, seeking approval of its $85 billion tie-up to create the first U.S. coast-to-coast freight rail operator.

The railroads said the deal would save shippers an estimated $3.5 billion annually in arguing in favor of the deal.