Union Pacific announces $85 billion deal to acquire Norfolk Southern, touts creation of 'America's first transcontinental railroad'

ATLANTA — Union Pacific announced an $85 billion deal Tuesday to buy Norfolk Southern in a merger that could trigger the final wave of railroad mergers across the country.

The deal, which will need regulatory approval, would create the first transcontinental railroad in the United States worth more than $200 billion, combining Union Pacific’s rail network in the West with Norfolk’s rails that snake across Eastern states.

Norfolk Southern is currently based in Atlanta in a building on Peachtree Street. The combined company would be headquartered in Omaha, where Union Pacific is currently based. Atlanta will "remain a core location for the combined organization over the long-term with a focus on technology, operations, and innovation, among other priorities," a release stated.

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