(Reuters distributed the following article on October 31.)
NEW YORK — Freight rail operator Union Pacific Corp. on Friday said its initial public offering of shares of its Overnite Corp. trucking unit will generate an after-tax gain of about $200 million for Union Pacific.
The Overnite deal priced late on Thursday at $19 per share, the top end of a raised pricing range, and the shares should begin trading on Nasdaq on Friday.
Union Pacific said the gain on the IPO will add about 75 cents per share to its fourth-quarter earnings.