Union Pacific wants 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 and Norfolk Southern today announced an $85 billion deal to tie their networks together and create the first U.S. transcontinental railroad. The merged company — which will be called Union Pacific — will transform the U.

The press release describes the railroad as a 'truck-competitive solution,' stating that it will reduce highway congestion and reduce wear and tear on public roadways.