---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-168150"
form_type: "8-K"
ticker: "UNP"
cik: "0000100885"
company_name: "UNION PACIFIC CORP"
filed_at: "2025-07-29T23:59:59+00:00"
generated_at: "2026-05-17T23:28:38.524371+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 1.0
calibrated_materiality_score: 1.0
confidence: "high"
source: SEC EDGAR
---

# Union Pacific to acquire Norfolk Southern for 1 UNP share + $88.82 cash per NSC share

## Summary
- Each Norfolk Southern share exchanged for 1 Union Pacific share plus $88.82 cash.
- Deal requires Surface Transportation Board approval, shareholder votes of both companies, and other conditions.
- Union Pacific pays $2.5B termination fee if regulatory approvals not obtained or board withdraws recommendation.
- Norfolk Southern CEO and Chair expected to join Union Pacific board after closing.
- Merger must close by January 28, 2028, with automatic extension for regulatory process.

## SEC filing metadata
- accession: 0001193125-25-168150
- form_type: 8-K
- ticker: UNP
- cik: 0000100885
- company_name: UNION PACIFIC CORP
- filed_at: 2025-07-29T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 1.0
- calibrated_materiality_score: 1.0
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/100885/000119312525168150/0001193125-25-168150-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/100885/000119312525168150/d51641d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-168150
- JSON: https://secwatch.observer/filing/0001193125-25-168150.json
- Plain text: https://secwatch.observer/filing/0001193125-25-168150.txt

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