| 11. | The voting trust, in effect, shifts the risk of the deal from the shareholders to Union Pacific.
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| 12. | The shares will be placed in a voting trust until the Surface Transportation Board approves the Conrail split.
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| 13. | Most if not all family members would put the additional distribution into the family's voting trust, he added.
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| 14. | The voting trust would require at least 50 percent of Conrail's total outstanding shares to be effective, Wyser-Pratte said.
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| 15. | GTE outside counsel Wiley, however, said GTE can also use a voting trust even though its offer is friendly.
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| 16. | Berle and Means note the development of Voting trusts, which initially met bitter opposition, being declared illegal by courts.
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| 17. | As part of the initial deal, Northwest was to place its Continental stock in neutral voting trust for six years.
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| 18. | Menominee Enterprises, Inc . was controlled by a voting trust and Menominee tribal members had no shares in the corporation.
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| 19. | Since then, the family has given up its executive and board positions and put its stock into a voting trust.
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| 20. | A majority of voting trustees must approve certain actions under the voting trust; in other instances, all four must agree.
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