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BRUNO v. WESTERN PACIFIC R. CO.

498 A.2d 171 (1985)

Daniel A. BRUNO, Philip R. Herzig, Edward A. Rogers, Edward A. Rogers and Ethel Rogers, as joint tenants, and Guarantee and Trust Co., Trustee FBO Edward Rogers, Petitioners, and Drexel Burnham Lambert Incorporated, a Delaware corporation, Intervenor, v. WESTERN PACIFIC RAILROAD COMPANY, a Delaware corporation, and Union Pacific Corporation, a foreign corporation, Respondents.

Court of Chancery of Delaware, New Castle County.

Decided: August 9, 1985.

Attorney(s) appearing for the Case

Joseph A. Rosenthal, Morris & Rosenthal, P.A., Wilmington, Attys. for petitioners in C.A. No. 7250.

Eliot Alazraki, Eliot Alazraki, P.A., Wilmington, Attys. for petitioners in C.A. No. 7274.

Vernon R. Proctor, Prickett, Jones, Elliott, Kristol & Schnee, Wilmington, Attys. for intervenor.

R. Franklin Balotti, Richards, Layton & Finger, Wilmington, Attys. for respondents.

BERGER, Vice Chancellor.

Petitioners filed this appraisal action pursuant to 8 Del. C. § 262 following the cash-out merger between respondents, Western Pacific Railroad Company ("Wes Pac") and Union Pacific Corporation ("Union Pacific"). With a trial date rapidly approaching, respondents have questioned this Court's subject matter jurisdiction inasmuch as this merger between two railroads was approved by the Interstate Commerce Commission ("ICC") as "just...

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