NEW YORK, Sept 12 (Reuters) - Union Pacific Corp ( UNP )

CEO Jim Vena met with U.S. President Donald Trump in the Oval

Office to discuss the railroad's proposed $85 billion buyout of

Norfolk Southern Corp ( NSC ), the company said on Friday, as it

awaits regulatory approval for what could be the U.S. freight

rail industry's most significant consolidation in decades.

White House support could accelerate the lengthy review process

despite resistance from rivals and pushback from shippers

concerned about reduced competition.

The White House did not immediately respond to a request

for comment.

The merger, if approved, could reshape the U.S. freight rail

industry by creating the first coast-to-coast single-line

network, streamlining operations and eliminating interchange

delays in key hubs like Chicago.

According to a company statement, Trump and Vena discussed

"how creating an American transcontinental railroad is a win for

U.S. competition, consumers, and the unionized workers whose

jobs will be protected when the merger is approved."

At a Morgan Stanley conference on Wednesday, Vena said he had

meetings with senior administration officials, without naming

them. "They see the strategic value in what we're proposing.

It's a clear win for the country," he said.