Directors of two railroads approved a merger.
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A plan calling for the merger of the Baltimore & Ohio Railroad into the Chesapeake & Ohio Railway has been approved by directors of both railroads. The merger is expected to be completed in early 1987. The price to be paid minority shareholders for their B&O; common stock was set at $113 per share. While no change in price is anticipated, as required by Maryland law, B&O; shareholders will be notified of the final price of the stock at least 30 days before the merger, but the price will not be less than $113 a share.
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