SCHEDULE 14A INFORMATION
Soliciting Materials Pursuant to Section 14(a)
of the Securities Exchange Act of 1934
[Amendment No............]
Filed by the Registrant /X/
Filed by a Party other than the Registrant / /
Check the appropriate box:
/ / Preliminary Proxy Statement (Revocation of Consent)
/ / Confidential, For Use of the Commission Only (as permitted by Rule
14a-6(e)(2))
/ / Definitive Proxy Statement (Revocation of Consent Statement)
/ / Definitive Additional Materials
/X/ Soliciting Material Pursuant to Section 240.14a-12
WISCONSIN CENTRAL TRANSPORTATION CORPORATION
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(Name of Registrant as specified in its charter)
(Name of person(s) filing proxy statement if other than Registrant)
Payment of Filing Fee (Check the appropriate box):
/X/ No fee required
/ / $125 per Exchange Act Rules 0-11(c)(1)(ii), 14a-6(i)(1), 14a6(i)(2) or
Item 22(a)(2) of Schedule 14A.
/ / Fee computed on table below per Exchange Act Rules 14a-6(i)(4) and 0-11.
1) Title of each class of securities to which transaction applies: __
______________________
2) Aggregate number of securities to which transaction applies: _____
___________________
3) Per unit price or other underlying value of transaction computed
pursuant to Exchange Act Rule 0-11 (Set forth the amount on which
the filing fee is calculated and state how it was determined): ___
__________________________
4) Proposed maximum aggregate value of transaction: _________________
_______
5) Total fee paid: _______________________
/ / Fee paid previously by written preliminary materials.
/ / Check box if any part of the fee is offset as provided in Exchange Act
Rule 0-11(a)(2) and identify the filing for which the offsetting fee was
paid previously. Identify the previous filing by registration statement
number, or the Form or Schedule and the date of its filing.
1) Amount Previously Paid: __________________________________________
2) Form, Schedule or Registration Statement No.: ____________________
3) Filing Party: ____________________________________________________
4) Date Filed: ______________________________________________________
Sch 14A Cover Page - 1
<PAGE>
WISCONSIN CENTRAL TRANSPORTATION CORPORATION
Is Pursuing Strategic Alternatives to
Maximize Shareholder Value
ROSEMONT, Ill. -- November 3, 2000 -- (Nasdaq:WCLX): Wisconsin Central
Transportation Corporation (WCTC) today announced that its Board of Directors is
pursuing a full range of strategic alternatives to maximize shareholder value.
The Company has retained the investment banking firm of Goldman, Sachs & Co. to
act as financial advisor to the Board in evaluating alternatives including, but
not limited to, sale of the Company and divestiture of its international
holdings.
Thomas F. Power, Jr., President and Chief Executive Officer of Wisconsin
Central stated, "Over the past 15 months under new leadership, we have made
substantial progress in strengthening the Company -- increasing revenues,
improving cash flows and repurchasing shares. The Board is proceeding
expeditiously on a full range of strategic alternatives to unlock the value of
the Company's domestic and international assets for the timely benefit of our
shareholders."
WCTC's principal subsidiaries, Wisconsin Central Ltd., Fox Valley & Western
Ltd., Algoma Central Railway Inc., Sault Ste. Marie Bridge Company, and
Wisconsin Chicago Link Ltd., form the Wisconsin Central System and operate
approximately 2,800 route miles of railway serving Wisconsin, Illinois,
Minnesota, Michigan's Upper Peninsula, and Ontario, Canada. WCTC holds 42.5
percent equity interest in English Welsh & Scottish Railway Holdings Limited,
Great Britain's primary freight railroad, 24 percent equity interest in Tranz
Rail Holdings Limited, New Zealand's nationwide railroad and transportation
company, and 33 percent equity interest in Australian Transport Network Limited
(ATN), which operates on the Australian mainland and in Tasmania.
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<PAGE>
This press release contains certain statements that are "forward-looking,"
within the meaning of Section 21E of the Securities Exchange Act of 1934,
including statements regarding, among other matters, the beliefs, expectations,
plans and estimates of the Company with respect to certain future events,
including without limitation assumptions related to market valuation and future
performance and similar expressions concerning matters that are not historical
facts. Such forward-looking statements are not guarantees of future performance
and involve known and unknown risks, uncertainties and other factors that could
cause actual events to differ materially from those expressed in those
statements.
This information was furnished on behalf of Wisconsin Central Transportation
Corporation, its Board of Directors and Management. Information regarding the
participants in Wisconsin Central's consent revocation solicitation and their
interest in such solicitation may be obtained by reviewing Wisconsin Central's
preliminary consent revocation materials as first filed with the Securities and
Exchange Commission ("SEC") on October 26, 2000. Wisconsin Central will shortly
be sending its stockholders definitive consent revocation materials, which
should be read as they contain important information. A copy of Wisconsin
Central's preliminary consent revocation materials filed on form PREC14A and,
when filed, its definitive consent revocation materials, may be obtained free of
charge at the SEC's web site at http://www.sec.gov.
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Shares of Wisconsin Central Transportation Corporation are publicly traded on
The Nasdaq Stock Market(R) under the symbol WCLX. For more information, see our
home page: www.wclx.com.
Contacts:
Ann Thoma George Sard / Paul Caminiti / Hugh Burns
Wisconsin Central Citigate Sard Verbinnen
847/318-4588 212/687-8080
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