Norfolk Southern shareholders approved the transaction with Union Pacific with nearly 99% of the shares cast in favor.
The merger aims to create America's first coast-to-coast transcontinental railroad, enhancing safety and transit times.
Shareholders will receive 1.0 Union Pacific common share and $88.82 in cash for each Norfolk Southern share.
Shareholder Approval
Almost 99% of Norfolk Southern shareholders voted in favor of the transaction with Union Pacific.
Merger Benefits
The merger aims to improve safety, transit times, and competitiveness against highways.
Transaction Details
Each Norfolk Southern share will be exchanged for 1.0 Union Pacific share and $88.82 in cash.
- The merger will preserve union jobs, enhance safety, and offer customers more attractive shipping alternatives.
- It is expected to unlock economic growth and strengthen the industrial prowess of American manufacturing.
The approval of the transaction marks a significant milestone in Norfolk Southern's journey to create a coast-to-coast railroad with Union Pacific, promising mutual benefits and economic growth.