The Parties agree that [CSXT] will not grant to Buyer, and Buyer will not seek, directly or indirectly, before or after Closing, through the transactions contemplated by this Agreement or other means, access to the New York, Susquehanna and Western Railway (“NYSW”) or the Finger Lakes Railway Corporation (“FGLK”) or any successor or assign of NYSW or FGLK. In the event such access is acquired or required to be afforded prior to, or as a condition of Closing, either Party shall have the right to terminate the Transaction pursuant to Section 11.02 hereof. Buyer shall be entitled to the limited use of certain trackage as described in the Operative Documents for the purpose of effectuating interchange, with [CSXT] only, at each of Belle Isle and in Dewitt Yard provided that such interchange shall not be used for the purpose of achieving access to NYSW or FGLK. This Section 5.14(b) shall survive Closing.CN and CSX negotiated and were unable to come to terms on this issue and the parties went back to STB formally asking STB to reconsider its position re: what it saw as anti-competitive language. STB did examine the acquisition proposal again and decided that its original decison was approrpiate re: the need for CSX & CN to alter the anti-competitive nature of the section 5.14(b) language:
Conclusion. After carefully considering the potential anticompetitive effects of the Transaction and the public benefits of the Transaction, the Board properly authorized the Transaction, conditioned on B&LE and CSXT removing or modifying section 5.14(b). Neither B&LE nor CSXT has presented evidence showing that the Board materially erred in imposing a condition designed to alleviate or eliminate the competitive harm of section 5.14(b) or that reconsideration is warranted due to new evidence or changed circumstances.19 For these reasons, B&LE’s and CSXT’s petitions for reconsideration will be denied.I don't believe the acquisition is necessarily dead but CN and CSX will likely have to decide if the deal can go forward.
It is ordered:
1. B&LE’s petition for reconsideration is denied.
2. CSXT’s petition for reconsideration is denied.
3. SMART/TD-NY’s request to revise the employee protection in Decision No. 4 is denied as moot.
4. This decision will be effective on its date of service.
Shortline614 wrote: ↑Fri Feb 26, 2021 12:14 pm https://trn.trains.com/news/news-wire/2 ... regulators It's in! Not posted to the STB site yet though.The key paragraph from that link: