§11323 Consolidation, Merger, and Acquisition of Control

Summary

Rail carriers must get approval and authorization from the Board before doing certain deals that change who owns, runs, or controls rail lines. That includes merging at least 2 carriers into one company; buying, leasing, or agreeing to operate another carrier’s property; one or more carriers taking control of another carrier; a non‑carrier taking control of at least 2 carriers; a non‑carrier that already controls carriers taking control of another carrier; and a carrier getting trackage rights or joint ownership/use of another carrier’s line and its terminals. Approval is also required when people or companies work together or use affiliates to gain control or shared management. That covers cases where a carrier plus its affiliates end up controlling another carrier; where a person affiliated with a carrier causes that carrier and its affiliates to control another; or where two or more people acting together (with at least one carrier or affiliate) together gain control. "Affiliated" means having ties to a carrier that make it likely you would manage another carrier for that carrier’s benefit.