JOC Staff | Dec 21, 2012 11:00AM EST
Short-line and regional railroad company Genesee & Wyoming said Thursday that the U.S. Surface Transportation Board has approved its application to control RailAmerica and that company’s railroads, effective Dec. 28, 2012.
GWI in October put in place a voting trust to control RailAmerica pending the STB’s decision. If no request to stay the STB’s approval is made by Dec. 24, GWI plans to dissolve the trust on Dec. 28 and assume direct control. It can then take steps to realize the cost savings expected from combining the businesses.
