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.

NSC merger would significantly expand Union Pacific's rail network, potentially challenging the dominance of BNSF Railway, which Berkshire Hathaway acquired in

Union Pacific , the largest U.S. freight railroad operator, is exploring a possible acquisition of Norfolk Southern to create a $200 billion coast-to-coast rail network, a person familiar with the matter said.