Union Pacific Corporation has provided an update regarding its previously announced agreement to acquire Norfolk Southern Corporation. Under the terms of the agreement, a wholly owned subsidiary of Union Pacific will merge with Norfolk Southern, making Norfolk Southern a direct wholly owned subsidiary of Union Pacific. The company has issued supplemental disclosures to the Joint Proxy Statement/Prospectus in response to recent shareholder litigation and demands for additional information about the transaction. Union Pacific and Norfolk Southern maintain that the existing disclosures are adequate, but have voluntarily provided further details to address these concerns and avoid any delay to the merger process.