Union Pacific Considering a Norfolk Southern Buyout, Report Says. Here’s What Will Matter. Union Pacific is in talks to merge with Norfolk Southern, The Wall Street Journal reported Thursday, in a deal that would shake up the railroad business in America.

Union Pacific , the largest U.S. railroad operator, could reach an agreement to acquire rival Norfolk Southern as soon as early next week, Bloomberg News reported on Friday, citing people familiar with the matter.

The combination of two large rail companies would create the first coast-to-coast network, but the deal could reduce competition.