TXLJ%CORNELLA.BITNET@ucb-vax.ARPA (02/08/86)
I'm relatively new to this group and must have missed any discussions on this topic. The Senate approved the sale of Conrail to Norfolk Southern (54-39) on Tuesday. Norfolk Southern was the recommended bidder from Sec. of Transp. Elizabeth Dole out of a field of 15. Norfolk Southern has offered to buy the Government's 85% of Conrail stock for $1.2 billion. A group headed up by Morgan Stanley & Co 'vowed to continue its fight to buy the railroad and predicted its prospects are better in the Democratic-controlled house. The group includes NYNEX Corp. and Dreyfus Corp.' This is quoted from DJ news retrieval. Can anyone tell me what impact this would have? Can Conrail be run as is by or just remove competition? Dan