---
schema_version: "secwatch.filing_event.v1"
accession: "0001552781-22-000637"
form_type: "8-K"
ticker: "NSC"
cik: "0000702165"
company_name: "NORFOLK SOUTHERN CORP"
filed_at: "2022-11-21T23:59:59+00:00"
generated_at: "2026-06-21T15:21:45.966447+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Norfolk Southern agrees to buy Cincinnati Southern Railway assets for $1.62B

## Summary
- Cash purchase price of ~$1.62B for 337-mile railroad line from Cincinnati to Chattanooga.
- Transaction expected to close first half of 2024, subject to Cincinnati voter and STB approval.
- Norfolk Southern will own the line in perpetuity, eliminating 2026 lease expiry uncertainty.
- Also expanded Executive Severance Plan to cover CEO, who was previously not included.

## SEC filing metadata
- accession: 0001552781-22-000637
- form_type: 8-K
- ticker: NSC
- cik: 0000702165
- company_name: NORFOLK SOUTHERN CORP
- filed_at: 2022-11-21T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/702165/000155278122000637/0001552781-22-000637-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/702165/000155278122000637/e22497_nsc-8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001552781-22-000637
- JSON: https://secwatch.observer/filing/0001552781-22-000637.json
- Plain text: https://secwatch.observer/filing/0001552781-22-000637.txt

## Key facts
- Material Agreements
  NORFOLK SOUTHERN CORP entered into Asset Purchase and Sale Agreement with the Board of Trustees of the Cincinnati Southern Railway valued at approximately $1.62 billion (effective 2022-11-21).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: the Board of Trustees of the Cincinnati Southern Railway
  - Value: approximately $1.62 billion
  - Effective: 2022-11-21
  source text: On November 21, 2022, Norfolk Southern Railway Company (“NSR”), a wholly owned subsidiary of Norfolk Southern Corporation (the “Registrant”), and The Cincinnati, New Orleans and Texas Pacific Railway Company (“CNO&TP”), a wholly-owned subsidiary of NSR, entered into an Asset Purchase and Sale Agreement (“Purchase Agreement”) with the Board of Trustees of the Cincinnati Southern Railway (the “Trustees”) pursuant to which the Trustees agree to sell, and NSR agrees to purchase, (i) approximately 337 miles of railway line that extends from Cincinnati, Ohio to Chattanooga, Tennessee known as the Cincinnati Southern Railway currently operated by CNO&TP under a lease agreement expiring in 2026, and (ii) certain associated real and personal property for a cash purchase price of approximately $1.62 billion, subject to certain adjustments.
  evidence_url: https://www.sec.gov/Archives/edgar/data/702165/000155278122000637/0001552781-22-000637-index.htm

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