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Joele Frank handles Norfolk Southern as its merges with Union Pacific in a cash and stock deal to create a giant valued at $250B.
The deal creates a transcontinental railroad of more than 50K miles of track across 43 states and serving about 100 ports.
The partners claim the transaction “will transform the U.S. supply chain, unleash the industrial strength of American manufacturing, and create new sources of economic growth and workforce opportunity that preserve union jobs.”
UP CEO Jim Vena, who will helm the Union Pacific Transcontinental Railroad, called the merger a win for the American economy, "it's a win for our customers, and it’s a win for our people.”
The deal “builds on President Abraham Lincoln’s vision of a transcontinental railroad from nearly 165 years ago and advances our safety, service and operational excellence strategy,” added Vena, who will remain in the top job for at least five years.
Joele Frank, Wilkinson Brimmer Katcher’s Joseph Sala, Sophie Throsby and Lucas Pers handle media for Norfolk Southern.
Interpublic posted a 5.1 percent drop in Q3 net revenues to $2.5B as CEO Philippe Krakowsky reports the final financial results of the publicly traded company.
Joele Frank handles Pine Gate Renewables as the Asheville, NC-based solar power development company declares Chapter 11 in the aftermath of Donald Trump’s cuts to wind & solar tax credits.
Stagwell CEO Mark Penn reports Q3 net revenues jumped 6 percent to $614.5M, a record performance for a non-political period. Operating income soared 45.7 percent to $60.9M.
Joele Frank works for Klöckner Pentaplast as the German maker of plastic films declares Chapter 11. A successful reorganization would slash its its corporate debt by $1.5B.
Teneo represents Metsera, the New York City biotech focused on weight-control products, which is subject to a bidding war between heavyweights Novo Nordisk and Pfizer.
