Union Pacific is seeking to buy Norfolk Southern in a $85 billion deal that would create the first transcontinental railroad in the U.S, and potentially trigger a final wave of rail mergers across the country.

Union Pacific acquires Norfolk Southern, forming the first U.S. transcontinental railroad. Read the latest stock analysis on the merger here.

Union Pacific has signed an agreement to acquire Norfolk Southern in a stock and cash transaction, at an enterprise value of $85bn, which will result in a combined enterprise worth over $250bn. This strategic move will create the first modern transcontinental railroad in the US,