By Nicholas G. Miller
Union Pacific and Norfolk Southern on Friday said their respective shareholders approved a merger agreement which would create the first coast-to-coast transcontinental railroad in the U.S.
Norfolk Southern said nearly 99% of the shares cast were in favor of the transaction, while Union Pacific said 99.5% of votes cast by its shareholders were in favor of issuing new shares as part of the merger.
Under the terms of the agreement, Norfolk Southern shareholders will receive one 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 regulatory approval.
Write to Nicholas G. Miller at nicholas.miller@wsj.com.
(END) Dow Jones Newswires
11-14-25 1000ET
