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NYC and C&O Court B&O Stock The Rail Merger Duel
New York Central and Chesapeake and Ohio seek B&O shares as a potential merger path. Central offers 12 Central shares plus $9 cash per B&O common share, valuing around $43. C&O offers one-for-one exchange for B&O common and preferred, valuing about $35. ICC rejects Central petition to probe eastern rail mergers, stating mergers must be carrier-initiated.
MENTIONED IN THIS ARTICLE
NEW York
Baltimore and Ohio Railroad
New York Central
Chesapeake & Ohio
Central
C&o
B&o
B&o Common
New York Stock Exchange
Interstate Commerce Commission
ICC
Central States