Destructive seems simplest, especially if we can assume the input is sorted:

/* destructively finds the intersection of 
 * two arrays in a simple fashion.  
 *
 * PARAMS
 *  a - first array, must already be sorted
 *  b - second array, must already be sorted
 *
 * NOTES
 *  State of input arrays is undefined when
 *  the function returns.  They should be 
 *  (prolly) be dumped.
 *
 *  Should have O(n) operations, where n is 
 *    n = MIN(a.length, b.length)
 */
function intersection_destructive(a, b)
{
  var result = [];
  while( a.length > 0 && b.length > 0 )
  {  
     if      (a[0] < b[0] ){ a.shift(); }
     else if (a[0] > b[0] ){ b.shift(); }
     else /* they're equal */
     {
       result.push(a.shift());
       b.shift();
     }
  }

  return result;
}

Non-destructive has to be a hair more complicated, since we’ve got to track indices:

/* finds the intersection of 
 * two arrays in a simple fashion.  
 *
 * PARAMS
 *  a - first array, must already be sorted
 *  b - second array, must already be sorted
 *
 * NOTES
 *
 *  Should have O(n) operations, where n is 
 *    n = MIN(a.length(), b.length())
 */
function intersect_safe(a, b)
{
  var ai=0, bi=0;
  var result = [];

  while( ai < a.length && bi < b.length )
  {
     if      (a[ai] < b[bi] ){ ai++; }
     else if (a[ai] > b[bi] ){ bi++; }
     else /* they're equal */
     {
       result.push(a[ai]);
       ai++;
       bi++;
     }
  }

  return result;
}

If you don't need to keep the order, and consider 45 and "45" to be the same:

function union_arrays (x, y) {
  var obj = {};
  for (var i = x.length-1; i >= 0; -- i)
     obj[x[i]] = x[i];
  for (var i = y.length-1; i >= 0; -- i)
     obj[y[i]] = y[i];
  var res = []
  for (var k in obj) {
    if (obj.hasOwnProperty(k))  // <-- optional
      res.push(obj[k]);
  }
  return res;
}

console.log(union_arrays([34,35,45,48,49], [44,55]));

why not use reduce ?

_.reduce(selected,function(result,a){
    return _.intersection(result,a);
});