India, July 29 -- Union Pacific Corp. (UNP) and Norfolk Southern Corp. (NSC) announced Tuesday an agreement to create America's first transcontinental railroad.
Union Pacific will acquire Norfolk Southern in a cash and stock transaction, implying a value for Norfolk Southern of $320 per share, based on Union Pacific's unaffected closing stock price on July 16, 2025.
Norfolk Southern shareholders will receive $88.82 in cash and 1.0 Union Pacific common share for each share of Norfolk Southern. The cash portion of the transaction will be funded through a combination of new debt and balance sheet cash.
Union Pacific will issue a total of approximately 225 million shares to Norfolk Southern shareholders, representing 27% ownership in the com...