---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-168147"
form_type: "8-K"
ticker: "NSC"
cik: "0000702165"
company_name: "NORFOLK SOUTHERN CORP"
filed_at: "2025-07-29T23:59:59+00:00"
generated_at: "2026-05-17T23:52:13.598284+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Union Pacific to acquire Norfolk Southern in stock-and-cash deal valued at $88.82 cash plus 1 UNP share per NSC share

## Summary
- Each NSC share converts into 1 share of UNP common stock plus $88.82 in cash.
- Transaction valued at implied premium; expected to close by Jan 28, 2028, subject to regulatory and shareholder approvals.
- Union Pacific will pay Norfolk Southern a $2.5B termination fee under certain regulatory denial scenarios.
- Three NSC directors, including Mark George and Richard Anderson, will join Union Pacific's board post-closing.
- NSC common stock will be delisted from NYSE and deregistered upon completion of the merger.

## SEC filing metadata
- accession: 0001193125-25-168147
- form_type: 8-K
- ticker: NSC
- cik: 0000702165
- company_name: NORFOLK SOUTHERN CORP
- filed_at: 2025-07-29T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/702165/000119312525168147/0001193125-25-168147-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/702165/000119312525168147/d877267d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-168147
- JSON: https://secwatch.observer/filing/0001193125-25-168147.json
- Plain text: https://secwatch.observer/filing/0001193125-25-168147.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.