Union Pacific Corp. could reach an agreement to acquire Norfolk Southern Corp. and create a transcontinental rail behemoth as soon as early next week, people familiar with the matter said.The deal, which would be the largest deal ever in the rail industry,

The combination of two large rail companies would create the first coast-to-coast network, but the deal could reduce competition.

Charleston’s claim to railroad fame comes into focus as Norfolk Southern Corp. considers a merger with Union Pacific that would form a transcontinental giant