Canadian Pacific has petitioned the U.S. Surface Transportation Board (STB) for a declaratory order that would confirm the voting trust structure the railroad has proposed as part of its attempt to acquire Norfolk Southern Corp., CP officials announced yesterday.
The Class I filed the petition in response to CP and NS shareholder requests that the STB clarify its views on the voting trust model ahead of any formal application that CP would file, said CP Chief Executive Officer E. Hunter Harrison in a press release.