Although the company had some independent shareholders, it was closely associated with the South Eastern Railway (SER). The original intention was for the SER to build part of the line itself, but this proposal was rejected by Parliament. The independence of the company was only a formality to satisfy Parliament. The two companies had some common directors; an SER engineer controlled the construction of the line. As intended at outset, the line was leased to the SER in 1850, and the two companies finally merged in 1852. The company's relationship with the GWR is described as "enigmatic". The GWR initially offered the company the use of its facilities at Reading station, but terms could not be agreed and a separate station was built.