ATLANTA — Atlanta-based Norfolk Southern and Union Pacific have agreed to a merger that would create the first transcontinental railroad in the U.S.
The companies announced the deal on Tuesday to combine Norfolk Southern’s rail network on the East Coast with Union Pacific’s rail network on the West Coast.
The deal, which still needs to be approved by regulators, would create a company with a combined value of over $250 billion.
The companies say they will be headquartered in Omaha, Neb. while Atlanta will “remain a core location” in the long-term.
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