Union Pacific Corporation (NYSE: UNP) has announced that 99.5% of votes cast by its shareholders were in favor of issuing new shares of Union Pacific common stock in connection with its Norfolk Southern merger.
The preliminary vote count from the special meeting of shareholders represented nearly 80% of all outstanding shares. The final voting will be reported in a form 8-K filed by Union Pacific with the U.S. Securities and Exchange Commission, after certification by Union Pacific’s independent inspector of elections.
This approval represents a significant milestone in Union Pacific's path to building America’s first coast-to-coast railroad. The company's CEO, Jim Vena, expressed appreciation for the shareholders’ support and highlighted the value of the merger in unlocking new opportunities to enhance service, growth, and innovation.
The transaction is subject to Surface Transportation Board (STB) review and approval within its statutory timeline as well as customary closing conditions.
For additional details regarding the transaction, please visit www.up-nstranscontinental.com.
Union Pacific operates in 23 western states and connects its customers and communities to the global economy. The company emphasizes the environmental responsibility of trains as the most environmentally responsible way to move freight.
As of the latest update, Union Pacific has not provided specific figures or metrics related to the financial implications or projected impact of the merger. Following these announcements, the company's shares moved 0.69%, and are now trading at a price of $223.02. For more information, read the company's full 8-K submission here.
