Union Pacific (UNP) is close to an agreement to acquire Norfolk Southern (NSC) in a cash-and-stock deal that would value the smaller firm at roughly $320 per share, Bloomberg’s David Carnevali and Kiel Porter report, citing people familiar with the matter. The bid would be comprised of roughly two-thirds stock and one-third cash, the authors say, noting that the total equity value of Norfolk in the deal would be about $72B.
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