Union Pacific wants to buy Norfolk Southern for $85 billion, creating the first transcontinental railroad in the United States.

Union Pacific said on Tuesday it would buy smaller rival Norfolk Southern in an $85 billion deal to create the first U.S.

Union Pacific Corp. is acquiring Norfolk Southern Corp. in an $85 billion deal, the companies announced Tuesday, a merger they said will create America's first transcontinental railroad company.

Union Pacific, dominant in the West, and Norfolk Southern, with a vast 19,500-mile network across the East will merge to form a 50,000-mile network which spans across 43 states. The companies project ...

Norfolk Southern Corporation (NASDAQ:NSC)’s shares have gained 21.7% year-to-date and have gained 11.5% in July.

Wall Street chugged mostly higher in premarket trading as Chinese and U.S. officials begin a second day of trade talks.