ICC Conditions Merger Approval Upon Retention of Jurisdiction To Allow Inclusion of Additional Railroads in the Future
In two recent merger proceedings under section 5(2) of the Interstate Commerce Act, Seaboard Air Line R.R. – Merger-Atlantic Coast Line R.R. and Norfolk & W. Ry. and New York, C. & St. L. R.R.-Merger, the Interstate Commerce Commission imposed conditions” whereby it retained jurisdiction over the proceedings for five years to allow specified railroads to petition for inclusion in the new railway systems. Their inclusion would be ordered if found by the Commission, after a full hearing, to be consistent with the public interest.