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 and Norfolk Southern are in merger talks to create the largest railroad in North America that would connect the East and West Coasts.

Merger talk is swirling around Union Pacific Corp. and Norfolk Southern Corp. in a deal that could create a railroad mega-carrier and a huge transcontinental network spanning the U.S.