Federal Register #FD 36948

Notice of Control Exemption for Henry Posner, III and Morristown & Erie Railway, Inc.

This notice from the Surface Transportation Board concerns a control exemption for Henry Posner, III and Morristown & Erie Railway, Inc. (M&E), a Class III rail carrier in New Jersey. - Government buyer: - Surface Transportation Board (STB) - Transaction details: - Henry Posner, III, a noncarrier, seeks authority to acquire 27.75% of M&E stock - A new investor group will purchase 50% of M&E's stock; incumbent owners retain 50% - Regulatory context: - Exemption granted under 49 CFR 1180.2(d)(2) - Subject to labor protection requirements due to involvement of Class II and Class III rail carriers - Notable requirements: - No procurement of products or services - Action is categorically excluded from environmental and historic preservation reporting - No OEMs, vendors, products, or services are mentioned in this notice

Description

This notice pertains to a control exemption involving Henry Posner, III, and the Morristown & Erie Railway, Inc., issued by the Surface Transportation Board. Henry Posner, III, a noncarrier, has filed a verified notice of exemption for authority to acquire 27.75% of the stock in Morristown & Erie Railway, Inc., a Class III rail carrier operating in New Jersey. The transaction involves a new investor group purchasing 50% of the stock in Morristown & Erie Railway, Inc., with the incumbent ownership retaining the remaining 50%. The transaction is exempt from prior approval requirements and is subject to labor protection requirements due to the control of Class II and Class III rail carriers.

View original listing