Union Pacific Corp. agreed to acquire Norfolk Southern Corp. in a cash-and-stock transaction valued at $85 billion, forming a transcontinental rail behemoth in what stands to be the industry’s largest deal ever.

Norfolk Southern (NSC) has experienced a noticeable price increase of 25% over the last quarter. This robust upward movement is largely linked to the ongoing merger discussions with Union Pacific Corporation,

Union Pacific is seeking to buy Norfolk Southern in a $85 billion deal that would create the first transcontinental railroad in the U.S, and potentially trigger a final wave of rail mergers across the country.