Activists win 4 seats on CSX board
| July 17th, 2008 | ||
| Four out of the five candidates nominated by activist hedge funds The Children's Investment Fund and 3G Capital were elected to the board of directors at the CSX's annual meeting last month. TCI and 3G launched a proxy battle against CSX to improve its performance by generating $2.2 billion in productivity gains over five years. CSX forecasted a $400 million in productivity gains over three years. The two funds also announced a proposal allowing special meetings to be called by shareholders with at least 15% stake collectively. TCI and 3G now control one third of the 12-member board of directors at CSX. | ||
For Detailed Investor Profiles on these Investors, click below: |
3G Capital Management |
The Children's Investment Fund Mgmt |
Related People: Chris Hohn;
Related Entities: 3G Capital Partners LP;
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