The U.S. will not block a Santa Fe insurance deal.
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The Justice Department said it does not intend to challenge Santa Fe Southern Pacific’s purchase of liability insurance from an insurer that will have on its board a director who may also serve as a director of a Santa Fe common carrier transportation subsidiary. The Clayton Act forbids insurers from draining resources from common carriers through interlocking directorships. The Justice Department ruled that, since Santa Fe helped to form the insurer, the insurer has no interest in plundering Santa Fe’s subsidiaries.
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