Union Pacific had said on Thursday it is in advanced talks to acquire its rival, signaling that a deal to form a $200 billion coast-to-coast rail company could be close - and potentially trigger further consolidation among remaining freight rail giants.

The merger would create the United States’ first coast-to-coast rail network, spanning 50,000 miles and 43 states.

Union Pacific acquires Norfolk Southern, forming the first U.S. transcontinental railroad. Read the latest stock analysis on the merger here.