Union Pacific to Acquire Norfolk Southern in $85 Billion Deal

Details

The transaction values Norfolk Southern at an enterprise value of $85 billion and is expected to unlock approximately $2.75 billion in annualized synergies. Norfolk Southern shareholders will receive 1.0 Union Pacific common share and $88.82 in cash for each share of Norfolk Southern. The deal is expected to close by early 2027, subject to regulatory approval and shareholder approval. A joint press release and investor presentation providing supplemental information on the transaction have been furnished as exhibits.

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Exhibits (2)

About Union Pacific Corporation

Union Pacific Corporation is a prominent transportation company renowned for its extensive network of railroads across the United States. As one of the largest freight transportation services in North America, it operates a significant portion of the American rail infrastructure, serving approximately 23 states across the western two-thirds of the United States. Union Pacific Corporation's primary function is to transport freight, which includes a diverse array of commodities such as agricultural products, automotive items, industrial chemicals, coal, and a wide range of consumer goods. This railroad operator plays a crucial role in the supply chain, providing essential links between producers and markets, thereby facilitating economic growth and development. The company’s operations are integral to the industries it serves, providing a reliable mode of bulk transportation and contributing to the efficiency and competitiveness of U.S. businesses. With a history dating back to 1862, Union Pacific Corporation is a fundamental pillar in the American transportation sector, representing a robust and enduring legacy in the railroad industry.