Today, during a Special Meeting of Shareholders, Norfolk Southern shareholders voted overwhelmingly — with nearly 99% of the shares cast in favor — to approve the transaction with Union Pacific Railroad. As CEO Mark George shared, "The approval of our shareholders marks a key milestone in our journey to create America’s first coast-to-coast transcontinental railroad, combining complementary networks and capabilities to unlock a multiplier effect for benefits to all stakeholders. The merger will preserve union jobs and improve safety while delivering faster, more reliable transit times. Together with UP, we will make rail more competitive with highways, offering customers new, more attractive shipping alternatives, unleashing the industrial strength of American manufacturing and creating new sources of economic growth across the country.” 🔗 Learn more at https://lnkd.in/eqV8wxRq.
this merger is a bad idea. UP and NS need to work together instead of merging.
Wait till the layoff’s start.
As I told my boys their whole life “Be careful what you wish for, you might get it”….! Will be some unhappy campers (AND stockholders) in the future. Guaranteed.
The STB needs to reject this request to merger
Of course they approved. They don’t hold stock to be benevolent.
No extension required for STB review.
Folks complaining about this don’t realize that mergers have been in talks for over a decade. Since Hunter Harrison tried to get the mergers between CP and CSX, and possibly even beforehand. I worked with UP and NS years ago and politically this merger was always whispered in the wings.
UP/NS 🤭
BNSFNS 😊
Director of Supply Chain and Logistics at Penthol LLC
1wWhat could go wrong? Let's just give one railroad more control and leverage In an industry that is already a de facto monopoly.