West Palm Beach (HedgeCo.Net) – Rail company CSX Corporation issued its final report, showing that four of hedge fund TCI Group’s nominees (Children’s Investment Fund Management) received a larger number of votes than four of CSX’s nominees.
"We are delighted that the certified results confirm that Alex Behring, Chris
Hohn, Gil Lamphere and Tim O’Toole have all been elected to the CSX Board." The Children’s Investment Fund Management and 3G Capital Partners, said, "They bring valuable railroad and management experience to the CSX Board and look forward to working constructively with their fellow directors for the benefit of all CSX stakeholders. We thank our fellow shareholders for their patience during this lengthy process and expect all newly elected board members to be seated without further delay."
The TCI/3G proposal to repeal any recent by-law amendments, including the recent by-law limiting the right of shareholders to call a special meeting, was also approved.
CSX is appealing before the Second Circuit Court of Appeals.
Alex Akesson
Editor for HedgeCo.Net
Email: alex@hedgeco.net
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