11.   The mechanism for doing that is the voting trust, in which the roads are kept separate even while being under common ownership.

12.   The NEC is a voting trust formed to buy the Johnnic stake.

13.   The shares purchased will be placed in a voting trust, a mechanism to protect shareholders if the Interstate Commerce Commission rejects the merger.

14.   The shares purchased in that tender offer will be placed in a voting trust, a mechanism to protect shareholders if the Interstate Commerce Commission rejects the merger.

15.   The shares will be placed in a voting trust until the Surface Transportation Board approves the Conrail split.

16.   The voting trust, in effect, shifts the risk of the deal from the shareholders to Union Pacific.

17.   To head off FTC objections, the company put the stock in a voting trust controlled by Time Warner Chairman Gerry Levin.

18.   Union Pacific had rejected a voting trust proposal, instead quoting its own experts who argued that the commerce commission would approve a deal.

19.   Wyser-Pratte said it will make a proposal on the voting trust to Norfolk Southern soon.

20.   John Anderson, a member of the voting trust and vice chairman of the board, maintained the action by the board of directors was legal.