Henry Posner, III-Control Exemption-Morristown & Erie Railway, Inc.

Document Headings Document headings vary by document type but may contain the following: the agency or agencies that issued and signed a document the number of the CFR title and the number of each part the document amends, proposes to amend, or is directly related to the agency docket number / agency internal file number the RIN which identifies each regulatory action listed in the Unified Agenda of Federal Regulatory and Deregulatory Actions See the Document Drafting Handbook for more details. Surface Transportation Board [Docket No. FD 36948] Henry Posner, III (Posner), a noncarrier, has filed a verified notice of exemption under 49 CFR 1180.2(d)(2) for authority to acquire 27.75% of the stock in Morristown & Erie Railway, Inc. (M&E), a Class III rail carrier operating in New Jersey. [ 1 ] Posner indirectly controls Iowa Interstate Railroad, LLC (Iowa Interstate), a Class II rail carrier, [ 2 ] through his control of RDC Domestic Holdings, (RDC), a noncarrier holding company. According to the verified notice, Iowa Interstate operates in Iowa and Illinois. According to the verified notice, as supplemented, [ 3 ] Posner has entered into a Stock Purchase Agreement and a Shareholders' Agreement whereby a new investor group, which includes Posner, will purchase 50% of the stock in M&E. Following the transaction, M&E's incumbent ownership group will retain the remaining 50% of the stock. Posner has certified that: (1) M&E does not connect with Iowa Interstate; (2) the proposed transaction is not part of a series of anticipated transactions that would connect M&E and Iowa Interstate; and (3) the transaction does not involve a Class I rail carrier. The proposed transaction is therefore exempt from the prior approval requirements of 49 U.S.C. 11323 pursuant to 49 CFR 1180.2(d)(2) . The earliest this transaction may be consummated is September 19, 2026, the effective date of the exemption (30 days after the verified notice is deemed to have been file…