Friday, December 21, 2012

STB approves GWI's control of RailAmerica railroads

The U.S. Surface Transportation Board (STB) has approved Genesee & Wyoming Inc.'s application to control RailAmerica, Inc., and the RailAmerica railroads, effective December 28, 2012.

Assuming no stay requests are made by the December 24, 2012, deadline set by the STB, the voting trust that has controlled RailAmerica since the transaction closed on October 1, 2012, is expected to be dissolved on December 28, 2012. Thereafter, GWI would assume control of RailAmerica and begin integration of the two companies.

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