{"id":6926,"date":"2007-12-21T00:00:00","date_gmt":"2007-12-21T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"hedge-funds-propose-csx-directors-starting-proxy-battle","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/12\/2007\/hedge-funds-propose-csx-directors-starting-proxy-battle.html","title":{"rendered":"Hedge Funds Propose CSX Directors, Starting Proxy Battle"},"content":{"rendered":"<p>  New York Times- An activist hedge fund that has feuded with the railroad operator <a title=\"More information about CSX Corporation.\" href=  \"http:\/\/topics.nytimes.com\/top\/news\/business\/companies\/csx_corporation\/index.html?inline=nyt-org\">CSX<\/a> over its strategy proposed a slate of five alternate directors on Wednesday, beginning a  proxy fight.<\/p>\n<p>  The hedge fund, the Children\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s Investment Fund, teamed up with 3G Capital Management, another hedge fund company, in proposing the board candidates. Together, the two hold some 8.3 percent of CSX,  plus derivative holdings whose exposure is equivalent to 11.8 percent, the funds said in a statement.<\/p>\n<p>  The move constituted an escalation in hostilities between Children\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s Investment and CSX over the company\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s spending and corporate governance structure.<\/p>\n<p>  In their statement, the two funds said their nominees would \u00c3\u00a2\u00e2\u201a\u00ac\u00c5\u201cstrengthen CSX\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s board by adding strong independent directors with a shareholder orientation, a broad range of railroad and other  relevant experience, and a firm commitment to improving CSX\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s operating performance and corporate governance.\u00c3\u00a2\u00e2\u201a\u00ac\u00c2\u009d<\/p>\n<p><a href=\"http:\/\/news.google.com\/news\/url?sa=T&amp;ct=us\/3-0&amp;fd=R&amp;url=http:\/\/www.nytimes.com\/2007\/12\/20\/business\/20fund.html%3Fref%3Dbusiness&amp;cid=1125153710&amp;ei=z6xrR_PnJI3oqwP9meHpBQ\"><strong>ReadComplete Article<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York Times- An activist hedge fund that has feuded with the railroad operator CSX over its strategy proposed a slate of five alternate directors on Wednesday, beginning a proxy fight. The hedge fund, the Children\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s Investment Fund, teamed up [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-6926","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/6926","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=6926"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/6926\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=6926"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=6926"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=6926"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}