Union Pacific and Norfolk Southern could announce a tentative merger agreement as early as this week, according to a published report. Bloomberg cited sources familiar with the talks in its report on Friday.

Railroad operator Union Pacific (UNP) is reportedly close to acquiring Norfolk Southern (NSC) for $320 per share in a cash-and-stock deal, which would give its smaller rival a valuation of about $72 billion.

Union Pacific (NYSE:UNP) could reach an agreement to acquire Norfolk Southern (NYSE:NSC) in a potential cash-and-stock deal as early as this week. Read more here.