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

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

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,