1. NSC shareholders approved merger with Union Pacific with 99% in favor. 2. The merger aims to create a coast-to-coast transcontinental railroad. 3. Shareholders will receive Union Pacific shares and $88.82 in cash each. 4. The transaction expects closure by early 2027, pending regulatory approval. 5. The merger enhances rail competitiveness and promotes economic growth.
The strong shareholder approval reflects confidence in NSC’s future post-merger, which historically boosts stock prices. Similar prior mergers like CSX and Norfolk Southern's past activities led to positive price movements.
The merger with Union Pacific significantly alters NSC's competitive landscape and growth trajectory, making it highly relevant and impactful for investors.
The merger's benefits may take time to realize fully, around 2027, impacting long-term growth metrics and profitability. Historical evidence shows mergers often yield positive financial impacts over extended periods after integration.
ATLANTA, Nov. 14, 2025 /PRNewswire/ -- Norfolk Southern Corporation (NYSE:NSC) today announced that its shareholders voted overwhelmingly, with nearly 99% of the shares cast in favor, to approve its previously announced transaction with Union Pacific at the company's Special Meeting of Shareholders (the "Special Meeting") held earlier today.
"The approval of our shareholders marks a key milestone in our journey to create America's first coast-to-coast transcontinental railroad, combining complementary networks and capabilities to unlock a multiplier effect for benefits to all stakeholders," said Mark George, President and CEO of Norfolk Southern. "The merger will preserve union jobs and improve safety while delivering faster, more reliable transit times. Together with UP, we will make rail more competitive with highways, offering customers new, more attractive shipping alternatives, unleashing the industrial strength of American manufacturing and creating new sources of economic growth across the country."
Under the terms of the agreement, Norfolk Southern shareholders will receive 1.0 Union Pacific common share and $88.82 in cash for each share of Norfolk Southern owned. The transaction is expected to close by early 2027, subject to Surface Transportation Board review and approval within its statutory timeline and customary closing conditions. To learn more about the benefits of the transaction please visit www.up-nstranscontinental.com.
Norfolk Southern will file the final voting results, as certified by an independent Inspector of Election, on a Form 8-K with the U.S. Securities and Exchange Commission.
About Norfolk Southern
Since 1827, Norfolk Southern Corporation (NYSE:NSC) and its predecessor companies have safely moved the goods and materials that drive the U.S. economy. Today, it operates a 22-state freight transportation network. Committed to furthering sustainability, Norfolk Southern helps its customers avoid approximately 15 million tons of yearly carbon emissions by shipping via rail. Its dedicated team members deliver approximately 7 million carloads annually, from agriculture to consumer goods. Norfolk Southern also has the most extensive intermodal network in the eastern U.S. It serves a majority of the country's population and manufacturing base, with connections to every major container port on the Atlantic coast as well as major ports across the Gulf Coast and Great Lakes. Learn more by visiting www.NorfolkSouthern.com.
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SOURCE Norfolk Southern Corporation