Union Pacific Acquires Norfolk Southern, P&G Rises, Novo Nordisk Slumps
On this episode of Stock Movers:- Union Pacific (UNP) agreed to acquire Norfolk Southern (NSC) in a cash-and-stock transaction valued at $85 billion, forming a transcontinental rail behemoth in what stands to be the industry’s largest deal ever.Norfolk Southern shareholders will receive one Union Pacific share and $88.82 in cash for each Norfolk share, the companies said in a statement Tuesday. Union Pacific will issue about 225 million shares to Norfolk Southern investors, representing 27% ownership in the combined company.- Procter & Gamble (PG) shares are up 1.3% in premarket…
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