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Union Pacific-Norfolk Southern Deal Nets Bank of America $130M

4/22/2026

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Summary

Story summary

Union Pacific's acquisition of Norfolk Southern will generate $130 million in fees for Bank of America, per Deal Point Data.
The surge in major M&A has driven banks to earn substantial fees.
In 2025, six U.S. acquisitions produced sell-side fees over $100 million for a single bank, vs. one in 2024.
Morgan Stanley earned $120 million advising Monsanto's sale to Bayer in 2016, the first such $100 million-plus fee.

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Story summary

Union Pacific's acquisition of Norfolk Southern will generate $130 million in fees for Bank of America, per Deal Point Data.
The surge in major M&A has driven banks to earn substantial fees.
In 2025, six U.S. acquisitions produced sell-side fees over $100 million for a single bank, vs. one in 2024.
Morgan Stanley earned $120 million advising Monsanto's sale to Bayer in 2016, the first such $100 million-plus fee.