April 7, 2016 / 7:27 PM / 2 years ago

U.S. military flags concerns on CP, Norfolk Southern voting trust

CHICAGO, April 7 (Reuters) - The U.S. military on Thursday raised concerns with a federal rail regulator over the voting trust Canadian Pacific has proposed as part of its takeover bid for Norfolk Southern and said the deal could adversely affect the country’s national defense.

In a letter to the U.S. Surface Transportation Board dated April 7, the Department of Defense said CP’s proposal to have its chief executive, Hunter Harrison, run Norfolk Southern as part of the voting trust “could prove to be untenable due to the appearance of common control” of the two railroads. (Reporting By Nick Carey)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below