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View Count: 47 |  Publish Date: November 21, 2013
Union Pacific Rises Most in Month on Buyback Up to $9.5 Billion
By James Callan - 2013-11-21T17:48:53Z Stock Chart for Union Pacific Corp (UNP)
Union Pacific Corp. (UNP) rose the most inmore than a month after the largest U.S. railroad authorized abuyback plan of as much as $9.5 billion in stock.
The four-year program, which will repurchase as many as 60million shares, is effective Jan. 1 and replaces the currentauthorization, Omaha, Nebraska-based Union Pacific said today ina statement. The buyback is equivalent to 13 percent of thecurrent outstanding stock.
Since 2007, Union Pacific has repurchased about 19 percentof its outstanding shares at a total cost of almost $8.6billion, according to the statement.
The shares increased 1.8 percent to $161.35 at 12:47 p.m.in New York, after advancing 2.1 percent for the biggestintraday gain since Oct. 10.
To contact the reporter on this story:James Callan in New York at jcallan2@bloomberg.net
To contact the editor responsible for this story:Ed Dufner at edufner@bloomberg.net

Time: 19:48  |  News Code: 349108  |  Site: bloomberg
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