Last month, Union Pacific said it would buy smaller rival Norfolk Southern in an $85 billion deal to create the first U.S. coast-to-coast freight rail operator and reshape the movement of goods from grains to autos across the country.

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.

The Union Pacific and Norfolk Southern corporations announced Tuesday the companies will merge to create America's first transcontinental freight railroad.

When Union Pacific and Norfolk Southern announced their merger deal Tuesday to form “America’s first transcontinental railroad,” it puzzled some who recalled the golden spike driven in 1869 at Utah’s Promontory Summit. That last spike only connected two railroads from Omaha, Neb., to Sacramento, Calif.

Union Pacific and Norfolk Southern said on Tuesday that they have agreed to a merger to create a $200 billion rail giant based on their current market capitalizations.

Omaha-based Union Pacific Railroad’s announcement Tuesday that it is acquiring the Norfolk Southern Railway — a move that would create the first transcontinental, coast-to-coast rail system — drew praise from Nebraska’s public and business leaders.

U.S. railroad customer groups have demanded regulators block or put onerous conditions on the proposed merger of Union Pacific and Norfolk Southern , the Financial Times reported on Sunday.

Union Pacific Corp. agreed to acquire Norfolk Southern Corp. in a cash-and-stock transaction valued at $85 billion, forming a transcontinental rail

Shippers across multiple industries are urging federal regulators to block or heavily condition the proposed $250 billion merger of Union Pacific (NYSE:UNP) and Norfolk Southern (NYSE:NSC), citing fears of reduced competition,