Canadian National Railway Company and Wisconsin Central Transportation Corporation are pleased to hear that the U.S. Surface Transportation Board will be treating the proposed merger of both companies as a “minor” transaction for regulatory review purposes.
The STB order establishes a schedule with a final agency decision set for Sept. 7, 2001. CN and WCTC filed a common control application with the STB on April 9.
“CN is pleased with today’s STB ruling, and we believe the record will show that the transaction merits the agency’s approval. The procedural schedule for this minor transaction is realistic and should give interested parties ample time to comment on it. The combination of CN and WCTC is already supported by more than 330 shippers, local governments and officials, chambers of commerce, public agencies (including port authorities and economic development agencies), and other railroads,” said Paul M. Tellier, CN’s president and chief executive officer.
The CN/WCTC merger will secure CN ownership and control of a link in its NAFTA network between Superior, Wis., and Chicago. It also seeks to generate service efficiency gains for shippers and enhance transportation competition. CN will maintain existing rail gateways affected by the transaction.
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