Jim Cramer Considers Union Pacific – Norfolk Southern Deal a “Good One”

Union Pacific Corporation (NYSE:UNP) is one of the stocks Jim Cramer highlighted in light of the Fed rate cut. Cramer was bullish on the stock due to the upcoming merger, as he stated, “You can buy Union Pacific and Norfolk Southern because that takeover is a good one.”

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Union Pacific Corporation (NYSE:UNP) works in the railroad business as the company transports a variety of goods, including agricultural products, chemicals, construction materials, energy products, and vehicles. During the December 3 episode, Cramer called the merger a “great situation,” as the Mad Money host commented:

“Next group… the transports, which are also in breakout mode. We know that Union Pacific’s doing extraordinarily well, about to merge with Norfolk Southern. Great situation.”

Moreover, Cramer discussed the news of Union Pacific Corporation (NYSE:UNP) buying Norfolk Southern during the July 29 episode. He said:

“The rash of takeovers didn’t for once sour, it didn’t create any buying, and not even Union Pacific buying Norfolk Southern, truly creating a continent-wide railroad colossus, assuming the deal gets approved. Now, that’s much more likely under Trump than it was under Biden. But there are legitimate antitrust concerns. I think they will get the deal done, but not for a long time. Hence why target Norfolk Southern saw its stock drop $8 and 72 cents, although it’s still up nicely from when my colleague David Faber broke the story a few weeks ago, when you could still profit from it.”

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Disclosure: None. This article is originally published at Insider Monkey.