Union Pacific and Norfolk Southern could announce a merger as early as next week, according to a published report. The post Report: Union Pacific, Norfolk Southern could reach merger deal by next week appeared first on FreightWaves.

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Union Pacific , the largest U.S. railroad operator, said on Thursday it is in advanced talks with rival Norfolk Southern , 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.

According to Oliver Wyman, a consultancy, the share of intermodal goods in America that travel by rail on journeys longer than 1,500 miles increases from 39% to 65% when served by a direct line. Transcontinental railways would mean fewer lengthy stops in Chicago and may make shorter routes near the Mississippi river more profitable.

The western rail giant Union Pacific confirmed on Thursday that it is in advanced talks to acquire the eastern railroad Norfolk Southern.