M&A Update – July 29

– NSC to be acquired by UNP for $88.82 cash + 1.0x shares, 22.9% premium, $85 billion
– GTLS to be acquired by BKR for $210.00 cash per share, 30.0% premium, $13.6 billion, terminated FLS deal
– DRRX to be acquired by BHC for $1.75 cash per share + CVR, 218.2% premium, $63 million
– CIX.to / Mubadala Investment Company obtained all required regulatory approvals, closing Aug 12
– OLO / Thoma Bravo filed PREM14a, filed HSR July 18, closing H2 2025
– PVBC / NBBK filed S-4/a, vote Sept 16, closing Q4 2025
– BASE / Haveli Investments filed PREM14a, filed HSR July 21, closing H2 2025