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

Union Pacific said on July 29 that it had agreed to buy smaller rival Norfolk Southern for $85 billion, including debt, in a deal that would create the first transcontinental U.S. railroad.

"We approach this development with measured skepticism rooted in the real-world impact such consolidation could have on rail workers, safety, service quality, and the long-term health of the freight ...