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Canadian Pacific's plan draws antitrust concern
2016-04-09 11:15:12| Railroads - Topix.net
Canadian Pacific Railway Ltd.'s plan to set up a voting trust to allow its chief executive to run Norfolk Southern Corp. in advance of its proposed takeover of the U.S. carrier should be rejected, the U.S. Justice Department said. The trust structure is meant to allow Norfolk Southern investors to be paid for their shares while the U.S. railroad keeps operating on its own pending a regulatory review of Canadian Pacific's unsolicited bid.
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