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Western Railroad Discussion > DOJ to STB:"Board Should Not Permit CN to Utilize a Voting Trust"Date: 05/14/21 19:18 DOJ to STB:"Board Should Not Permit CN to Utilize a Voting Trust" Author: Marcus The U.S. Department of Justice has recommended that the STB not grant CN a Voting Trust.
Link === 302340.pdf "At this time, the Department is only beginning to evaluate the potential competitive concerns raised by a proposed acquisition of KCS." "On May 6, 2021, the Board approved the proposed CP-KCS voting trust in Finance Docket No. 36500. Notwithstanding this decision, the Board should not permit the proposed CN voting trust because CN’s proposed acquisition of KCS appears to pose greater risks to competition than the risks posed by a CP-KCS merger." The DOJ was not enthusiastic about the CPKCS voting trust when commenting on the then-proposed CPKCS voting trust. Link ===. 301925.pdf "the Board should rarely, if ever, permit the parties to a proposed merger to use a so-called “voting trust”" Date: 05/15/21 06:12 Re: DOJ to STB:"Board Should Not Permit CN to Utilize a Voting Tr Author: Juniata Based on the STB’s handling of CP’s proposed voting trust; I’m guessing STB will give DOJ another “thank you for your opinion” and approve CN’s proposed trust as well.
CW Posted from iPhone Date: 05/15/21 12:12 Re: DOJ to STB:"Board Should Not Permit CN to Utilize a Voting Tr Author: SOO6617 Juniata Wrote:
------------------------------------------------------- > Based on the STB’s handling of CP’s proposed > voting trust; I’m guessing STB will give DOJ > another “thank you for your opinion” and > approve CN’s proposed trust as well. It might very well happen, but then again I think most people thought that CSX's sale of the Massena Line would pass with flying colors too. |