London Company Boosts Norfolk Southern Stake, Cites Discount to Union Pacific Deal
The London Company Large Cap Strategy added to its Norfolk Southern position after shares pulled back, noting NSC trades at a discount to the pending Union Pacific deal value. NSC’s chairman purchased shares and the stock posted one-month and twelve-month returns of 9.35% and 26.93%, respectively.
1. London Company Adds Position
The London Company Large Cap Strategy increased its Norfolk Southern holdings in Q4 2025, adding shares after NSC pulled back despite the pending Union Pacific merger.
2. Discount to UNP Deal and Performance
Norfolk Southern trades below the value implied by the pending Union Pacific deal, with one-month and twelve-month returns of 9.35% and 26.93%, and a market capitalization of $70.99 billion.
3. Chairman’s Purchase and Outlook
NSC’s chairman bought shares in the open market, signaling conviction, while the strategy expects incremental volume improvements as execution strengthens in the out-of-favor rail sector.