secwatch.observer — SEC 8-K summary
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Issuer:     UNION PACIFIC CORP (UNP)
CIK:        0000100885
Form:       8-K
Filed at:   2025-07-29T23:59:59+00:00
Accession:  0001193125-25-167154
Event type: m_and_a
Sentiment:  positive
Materiality: 1.00
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Union Pacific to acquire Norfolk Southern for $85B enterprise value, creating first transcontinental railroad
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- Deal values Norfolk Southern at $320/share (1.0 UNP share + $88.82 cash), 25% premium to 30-day VWAP.
- Expected annualized synergies of ~$2.75B; combined enterprise over $250B.
- Transaction expected to close by early 2027; subject to STB approval and shareholder votes.
- Reverse termination fee of $2.5B; Debt/EBITDA of ~3.3x post-closing.
- All union employees offered jobs; combined network spans 50,000 route miles, 43 states, ~100 ports.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/100885/000119312525167154/0001193125-25-167154-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/100885/000119312525167154/d64537d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-167154

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