DOCP Acquisition LLC Takeover
On October 3, 1997, DOCP Acquisition LLC announced it had completed the short-form merger of Delaware Otsego Corporation (NASDAQ:DOCP) with a wholly owned subsidiary via a stock tender offer of $22 per share.
This deal essentially brought the DO System of Railroads, including the subsidiary New York, Susquehanna and Western Railway (NYS&W), under control of the much larger Norfolk Southern and CSX rail systems, because the new owner DOCP Acquisition LLC is owned 40% by Norfolk Southern, 40% by CSX and 20% by Walter G. Rich of the Delaware Otsego Corporation. On 9 August 2007, Rich died after an eight-month struggle against pancreatic cancer, at the age of 61. The NYSW has shrunk its operations, with lucrative traffic being siphoned off to CSX and NS, and all passenger operations cancelled and equipment sold.
Read more about this topic: Delaware Otsego Corporation
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