[Federal Register Volume 72, Number 101 (Friday, May 25, 2007)]
[Notices]
[Page 29362]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E7-10114]


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DEPARTMENT OF TRANSPORTATION

Surface Transportation Board

[STB Finance Docket No. 35027]


United States Steel Corporation--Acquisition of Control 
Exemption--Texas & Northern Railway Company

    United States Steel Corporation (USS), a noncarrier,\1\ has filed a 
verified notice of exemption to acquire from Lone Star Technologies, 
Inc. (LST), control of Texas & Northern Railway Company (T&NR), a Class 
III rail carrier, operating in Texas. According to USS, USS and LST 
have entered into an agreement and plan of merger, submitted to the 
Board, for USS to control certain subsidiaries of LST, including Lone 
Star Steel Company, LP (LSS).\2\ USS states that by this agreement with 
LST, USS will indirectly control T&NR and through Transtar, continue to 
control six common carriers.
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    \1\ USS controls Transtar Inc. (Transtar), a noncarrier holding 
company, which owns one Class II carrier, the Elgin, Joliet, and 
Eastern Railway Company, and the following five Class III carriers: 
Birmingham Southern Railroad Company; Delray Connecting Railroad 
Company; The Lake Terminal Railroad Company; McKeesport Connecting 
Railroad Company; and Union Railroad Company.
    \2\ T&NR is a wholly owned subsidiary of LSS that provides rail 
services for LSS and others.
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    The transaction will be consummated on or about June 14, 2007.
    The parties represent and warrant that: (1) T&NR does not connect 
with any of the Transtar railroads; (2) the acquisition and continuance 
in control is not part of a series of anticipated transactions that 
would connect the T&NR with any of the railroads in the Transtar 
corporate family; and (3) the transaction does not involve a Class I 
carrier. Therefore, the transaction is exempt from the prior approval 
requirements of 49 U.S.C. 11323. See 49 CFR 1180.2(d)(2).
    Under 49 U.S.C. 10502(g), the Board may not use its exemption 
authority to relieve a rail carrier of its statutory obligation to 
protect the interests of its employees. Because the transaction 
involves the control of one Class II and one or more Class III 
carriers, the exemption is subject to the labor protection requirements 
of 49 U.S.C. 11326(b).
    If the 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. 35027, must be filed with the Surface Transportation 
Board, 395 E Street, SW., Washington, DC 20423-0001. In addition, a 
copy of all pleadings must be served on Brian M. McShea, United States 
Steel Corporation, 600 Grant Street, Room 1500, Pittsburgh, PA 15219-
2800; John A. Vuono, Vuono & Gray, LLC, 2310 Grant Building, 
Pittsburgh, PA 15219; and Robert F. Spears, Texas & Northern Railway 
Company, Lone Star Technologies, Inc., 15660 N. Dallas Parkway, Suite 
500, Dallas, TX 75248.
    Board decisions and notices are available on our Web site at 
``WWW.STB.DOT.GOV.''

    Decided: May 18, 2007.

    By the Board, Joseph H. Dettmar, Acting Director, Office of 
Proceedings.
Vernon A. Williams,
Secretary. 3
 [FR Doc. E7-10114 Filed 5-24-07; 8:45 am]
BILLING CODE 4915-01-P