Norfolk Southern Corporation and Norfolk Southern Railway Company are asking the Surface Transportation Board for permission to take control of the Norfolk & Portsmouth Belt Line Railroad Company. The Board is announcing the suggested schedule for reviewing this proposal and is seeking public feedback on it. The schedule outlines the key deadlines for public comments, application reviews, and final decisions, with the entire process expected to conclude in about 300 days. The Board has also decided that 2023 will be used as the year for evaluating the impact of this acquisition.
Simple Explanation
Norfolk Southern wants permission from a board to take over a railroad company, and the board is making a plan to decide if this should happen, asking people what they think. They want to make sure to finish looking at this plan within a year.