Section 6. Merger of subsidiary corporations

(a)  Any  domestic
  transportation corporation or any foreign corporation authorized  to  do
  in this state any business which may be done in this state by a domestic
  transportation  corporation,  owning at least ninety-five percent of the
  outstanding  shares  of  each  class  of  any  domestic  corporation  or
  corporations  authorized  to engage in business similar or incidental to
  the business which the possessor corporation is authorized to engage in,
  and any domestic transportation corporation owning at least  ninety-five
  percent  of  the  outstanding  shares  of  each  class  of  any  foreign
  corporation authorized to do in this state any  business  which  may  be
  done  in  this  state  by a domestic transportation corporation and also
  authorized to engage in business similar or incidental to  the  business
  which  the  possessor  corporation is authorized to engage in, may merge
  such corporation or corporations into itself without  the  authorization
  of  the  shareholders  of  any  such corporation, in accordance with the
  procedure and with the effect set forth in article nine of the  business
  corporation law for the merger of subsidiary corporations.
    (b)  Any omnibus corporation may be merged under this section with any
  railroad corporation, provided  such  railroad  corporation  shall  have
  substituted  stages,  buses  or  motor  vehicles for cars or trains upon
  tracks on any portion of  its  route  in  accordance  with  section  one
  hundred twenty-one of the transportation law.