U.S. Antitrust Chief Concerned About CP Rail-Norfolk Trust

The head of the Justice Department’s antitrust division said he’s concerned about the proposed voting trust structure Canadian Pacific Railway Ltd. wants to use to acquire Norfolk Southern Corp.

Bill Baer said at a Senate antitrust oversight hearing Wednesday that the Justice Department will submit comments to the U.S. Surface Transportation Board, which has been asked to issue an order confirming the validity of the mechanism.

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