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Rail News Home Union Pacific Railroad 3/24/2022 Rail News: Union Pacific Railroad
Add Union Pacific Railroad to the growing list of rail industry constituents that are donating big dollars to relief efforts in Ukraine.The Class I yesterday announced it will provide $500,000 — its largest-ever corporate disaster relief donation — to support humanitarian operations in the war-torn nation. The donation will be split evenly between the American Red Cross and Save the Children.Employees also have been overwhelming generous with donations to Ukraine relief efforts, driving nearly $50,000 in matching funds from the company, UP officials said in a press release.Earlier this month, the Class I announced a two-for-one match program for employees who donate to six organizations providing direct support to Ukrainians: the Salvation Army, American Red Cross, UNICEF, Global Giving Foundation, Doctors Without Borders and Save the Children."Our hearts are with the Ukrainian people who did nothing to provoke this attack and whose lives are irrevocably changed," said UP Chairman, President and CEO Lance Fritz. "Our employees' charitable donations clearly demonstrate they’re taking a stand with the Ukrainian people, and we’re proud to let their generosity guide our corporate contribution to two of many worthy organizations providing immediate aid."

Rail News Home CSX Transportation 3/24/2022 Rail News: CSX Transportation
CSX Corp. yesterday recommended that shareholders reject an unsolicited "mini-tender" offer by TRC Capital Investment Corp. to purchase up to 4 million shares of CSX common stock at $34.75 per share in cash.Shareholders should reject the offer because the price is 4.43% below the $36.34 closing price of CSX common stock on March 18, the last trading day before the mini-tender began, CSX officials said in a press release.The Class I is not affiliated with TRC and does not endorse its unsolicited offer, CSX officials said.The offer is also subject to a number of conditions, including TRC’s ability to secure sufficient financing to consummate the offer.CSX officials recommend that any shareholders who have tendered shares to TRC withdraw those shares by providing the written notice described in the offering documentation before the offer expires April 20."[We] urge shareholders to obtain current market quotes for their shares, to review the conditions to TRC’s mini-tender offer, to consult with their brokers or financial advisors and to exercise caution with respect to TRC’s mini-tender offer," CSX officials said.