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CN seeks legal action on acquisition

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  • Member since
    April 2005
  • From: Nanaimo BC Canada
  • 4,117 posts
CN seeks legal action on acquisition
Posted by nanaimo73 on Wednesday, August 6, 2008 1:08 PM

From the Globe and Mail-

CHICAGO - Canadian National Railway says it will seek unspecified "legal relief" to enable it to salvage the proposed $300-million purchase of the Elgin, Joliet & Eastern Railway from U.S. Steel by the end of the year.
The Montreal-based railway said Wednesday it will pursue legal action because a review by the Surface Transportation Board, which regulates the U.S. rail industry, may not be completed in time to get final approval by Dec. 31.

Full article-
http://www.reportonbusiness.com/servlet/story/RTGAM.20080806.wcnlegal0806/BNStory/Business/home

Dale

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