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Southern Pacific sought merger with Seaboard Coast Line, not Seaboard System, and was rebuffed by SCL. Union Pacific just bided its time until SP could be bought at a decent price, and then swooped in for the kill. <br /> <br />I think the SP would have gone the way of the Rock Island regardless of who got the Santa Fe. SP was feeling the pressure from its larger and more powerful rivals, and given the railroad's financial status when UP acquired it, I doubt the SP would have survived into 2005. You might want to check out Mark Hemphill's article on the SP in the Trains issue about seventies-era railroading. (Sorry, I don't remember which month the issue was published.)
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