Overview

• The merger will link Union Pacific’s western network with Norfolk Southern’s 19,500-mile eastern routes into a 50,000-mile system spanning 43 states.
• Shareholders will receive one Union Pacific share plus $88.82 in cash for each Norfolk Southern share, valuing the deal at about $320 per NSC share.
• Under federal law, an STB application must be filed within six months, setting off a 19-to-22-month approval process led by Chair Patrick Fuchs’s industry-friendly board.
• The SMART Transportation Division has pledged to challenge the merger in STB proceedings, citing concerns over jobs and service disruptions.
• Rival carriers BNSF and CSX are weighing their own consolidation moves to counter the expanded market share of the combined railroad.