Lawyers from two of Wall Street’s top deals firms are advising on
Union Pacific turned to Skadden, Arps, Slate, Meagher & Flom, while Norfolk Southen is represented by Wachtell Lipton Rosen & Katz, according to a Tuesday announcement. The transaction, which the companies aim to close by 2027, is expected to be the largest in the railroad industry’s history.
Covington & Burling also is representing Union Pacific, advising on regulatory matters, which remain a hurdle for rail mergers. Sidley Austin is regulatory counsel for Norfolk Southern.
The deal values Norfolk Southern at $85 billion on an enterprise basis, providing a huge boost to the M&A market and pushing the four Big Law firms higher up the league tables. Wachtell trailed only Latham & Watkins and Kirkland & Ellis as the leading M&A legal adviser through the first half of the year, working on more than $161 billion worth of deals.
Skadden’s team was led by M&A partners Paul Schnell and Brandon Van Dyke. Schnell, who has previously guided Union Pacific, counts
Wachtell’s team was led by Edward D. Herlihy, the veteran dealmaker and co-chairman of the firm’s executive committee, and Jacob A. Kling co-chair of the firm’s M&A practice. Kling has advised on recent deals involving
The proposed merger puts pressure on other industry players like
To contact the reporter on this story:
To contact the editor responsible for this story:
Learn more about Bloomberg Law or Log In to keep reading:
Learn About Bloomberg Law
AI-powered legal analytics, workflow tools and premium legal & business news.
Already a subscriber?
Log in to keep reading or access research tools.