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.

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 at 7:00 AM EDT announced their agreement to, in a combined cash and stock transaction valued at more than $250 billion, merge and