(Source: Reuters, February 16, 2016)
NEW YORK — CP said it would seek an order from the U.S. Surface Transportation Board (STB) confirming the viability of a complex deal structure that it intends to use in its proposed takeover of Norfolk Southern Corp. The rarely used deal structure, known as a voting trust, would allow CP and NS to remain independent until their merger gets regulatory approval, but allows the U.S. railroad’s shareholders to get paid before the deal closes.
Full story: Reuters