For Immediate Release
Union Pacific Corporation (NYSE: UNP) announced Friday that 99.5% of votes cast by its shareholders supported issuing new shares of Union Pacific common stock in connection with its planned merger with Norfolk Southern.
“We appreciate our shareholders’ support in reaching this important milestone on our path to building America’s first coast-to-coast railroad,” said Union Pacific CEO Jim Vena. “Our shareholders see the value and understand this merger will unlock new opportunities to enhance service, growth and innovation. We look forward to filing our application with the Surface Transportation Board (STB) and detailing how the transaction will provide seamless, single-line service across the country to improve transit times, safely increase reliability and strengthen the competitiveness of U.S. rail.”
The preliminary vote count from Friday’s special meeting represented nearly 80% of all outstanding shares. The final tally will be reported in a Form 8-K filed with the U.S. Securities and Exchange Commission once Union Pacific’s independent inspector of elections certifies the results.
The merger remains subject to STB review and approval within its statutory timeline, along with other customary closing conditions.
For more details about the transaction, visit up-nstranscontinental.com.