|SURFACE TRANSPORTATION BOARD DECISION DOCUMENT|
|UNITED STATES STEEL CORPORATION--ACQUISITION OF CONTROL EXEMPTION--DELRAY CONNECTING RAILROAD COMPANY|
|Director Of Proceedings|
|NOTICE THAT UNITED STATES STEEL CORPORATION FILED A NOTICE OF EXEMPTION TO ACQUIRE CONTROL, THROUGH STOCK PURCHASE, OF DELRAY CONNECTING RAILROAD COMPANY, A CLASS III RAILROAD AND A WHOLLY OWNED SUBSIDIARY OF NATIONAL STEEL CORPORATION.|
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|Full Text of Decision|
33354 SERVICE DATE - FEBRUARY 19, 2003
DEPARTMENT OF TRANSPORTATION
Surface Transportation Board
[STB Finance Docket No. 34311]
United States Steel Corporation–Acquisition of Control Exemption–Delray Connecting Railroad Company
United States Steel Corporation (U.S. Steel), a noncarrier, has filed a notice of exemption to acquire control, through stock purchase, of Delray Connecting Railroad Company (Delray), a Class III railroad and a wholly owned subsidiary of National Steel Corporation (National Steel).
The transaction is expected to be consummated early in the second quarter of 2003.
U.S. Steel states that: (i) the railroads (Delray and the Transtar Railroads) do not connect; (ii) the transaction is not part of a series of anticipated transactions that would connect these railroads with each other or any railroad in their corporate family; and (iii) the transaction does not involve a Class I carrier. Therefore, the transaction is exempt from the prior approval requirements of 49 U.S.C. 11323. See 49 CFR 1180.2(d)(2).
Under 49 U.S.C. 10502(g), the Board may not use its exemption authority to relieve a rail carrier of its statutory obligation to protect the interests of its employees. Because U.S. Steel already controls one Class II and four Class III railroads by virtue of its control of Transtar, this grant will be made subject to the labor protection requirements of 49 U.S.C. 11326(b).
If the notice contains false or misleading information, the exemption is void ab initio. Petitions to revoke the exemption under 49 U.S.C. 10502(d) may be filed at any time. The filing of a petition to revoke will not automatically stay the transaction.
An original and 10 copies of all pleadings, referring to STB Finance Docket No. 34311, must be filed with the Surface Transportation Board, 1925 K Street, N.W., Washington, DC 20423-0001. In addition, a copy of each pleading must be served on Richard J. Munsch, 600 Grant Street, Room 1500, Pittsburgh, PA 15219-2800 and Vincent P. Szeligo, 1450 Two Chatham Center, Pittsburgh, PA 15219-3427.
Board decisions and notices are available on our website at “WWW.STB.DOT.GOV.”
Decided: February 12, 2003.
By the Board, David M. Konschnik, Director, Office of Proceedings.
Vernon A. Williams