[Federal Register Volume 68, Number 209 (Wednesday, October 29, 2003)]
[Notices]
[Page 61716]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-27139]


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DEPARTMENT OF TRANSPORTATION

Surface Transportation Board

[STB Finance Docket No. 34396]


Norfolk Southern Railway Company--Corporate Family Transaction 
Exemption--Atlantic and East Carolina Railway Company

    Norfolk Southern Railway Company (NSR) \1\ and Atlantic and East 
Carolina Railway Company (AEC),\2\ have filed a verified notice of 
exemption under the Board's corporate family class exemption at 49 CFR 
1180.2(d)(3) to merge AEC into NSR, with NSR as the surviving entity. 
Under the agreement and plan of merger, all of AEC's assets, rights, 
obligations and responsibilities will be in the name of NSR.
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    \1\ NSR is a Class I carrier; together with its railroad 
subsidiaries, it owns or operates approximately 21,500 miles of 
railroad located in 22 states, the District of Columbia, and the 
Province of Ontario, Canada. NSR is controlled through stock 
ownership by Norfolk Southern Corporation, a noncarrier holding 
company.
    \2\ AEC has been controlled by NSR or its predecessors through 
stock ownership since 1989.
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    Although the parties state that the transaction was scheduled to be 
consummated on or as soon as practicable after August 31, 2003, the 
earliest the transaction could be consummated was October 6, 2003 (7 
days after filing under 49 CFR 1180.4(g)).
    The purpose of the transaction is to eliminate AEC as a separate 
corporate entity, thereby furthering the goal of corporate 
simplification. It is anticipated that this action will eliminate costs 
associated with separate accounting, tax, bookkeeping and reporting 
functions.
    This is a transaction within a corporate family of the type 
specifically exempted from prior review and approval under 49 CFR 
1180.2(d)(3). The parties state that the transaction will not result in 
adverse changes in service levels, significant operational changes, or 
a change in the competitive balance with carriers outside the corporate 
family.
    As a condition to the use of this exemption, any employees 
adversely affected by this transaction will be protected by the 
conditions set forth in New York Dock Ry.--Control--Brooklyn Eastern 
Dist., 360 I.C.C. 60 (1979).
    If the verified notice contains false or misleading information, 
the exemption is void ab initio. Petitions to revoke the exemption 
under 49 U.S.C. 10502(d) may be filed at any time. The filing of a 
petition to revoke will not automatically stay the transaction.
    An original and 10 copies of all pleadings, referring to STB 
Finance Docket No. 34396 must be filed with the Surface Transportation 
Board, 1925 K Street, NW., Washington, DC 20423-0001. In addition, a 
copy of each pleading must be served on Maquiling B. Parkerson, Norfolk 
Southern Corporation, Three Commercial Place, Norfolk, VA 23510-9241.
    Board decisions and notices are available on our Web site at 
www.stb.dot.gov.


    Decided: October 22, 2003.

    By the Board, David M. Konschnik, Director, Office of 
Proceedings.

Vernon A. Williams,
Secretary.
[FR Doc. 03-27139 Filed 10-27-03; 8:45 am]
BILLING CODE 4915-00-P