Union Pacific has reached an agreement to acquire Norfolk Southern in an $85 billion cash and stock transaction, creating the first coast-to-coast freight rail operator in the United States. The merger aims to reshape the movement of goods across the country, covering commodities from grains to automobiles. This deal, if approved, would be the largest buyout in the U.S. railroad industry and establish the first transcontinental railroad in the country. The combined network would unite Union Pacific's stronghold in the western U.S. with Norfolk Southern's approximately 19,500 miles of track. The companies have formally filed a notice of intent to combine with the Surface Transportation Board, initiating the regulatory review process. The merger is expected to intensify competitive pressure on other major rail operators, including CSX and Berkshire Hathaway's BNSF. However, the largest U.S. rail union has expressed its intention to oppose the acquisition.