{"id":7826,"date":"2008-06-04T00:00:00","date_gmt":"2008-06-04T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"csx-says-hedge-funds-have-no-plan-for-the-company","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/06\/2008\/csx-says-hedge-funds-have-no-plan-for-the-company.html","title":{"rendered":"CSX says hedge funds have no plan for the company"},"content":{"rendered":"<p>Reuters- U.S. railroad CSX Corp, locked in a proxy battle with two hedge funds, urged shareholders in a letter on Tuesday to vote against the activist investor group&#8217;s proposed slate of five directors, saying they had &quot;no plan&quot; for the company. <\/p>\n<p>&quot;The TCI Group, which is promoting a slate of five new directors for the CSX board, has no plan and no new ideas for the company,&quot; wrote Michael Ward, chairman and chief executive of Jacksonville, Florida-based CSX. &quot;They&#8217;ve made demands that we believe would damage CSX and impair the value of your investment &#8212; ideas such as saddling CSX with &#8216;junk&#8217;-rated debt or doing a leveraged buyout at $50 a share, with the stock price now in the high $60s.&quot;<\/p>\n<p><a href=\"http:\/\/www.hedgeco.net\/news\/news_land.php?i=http:\/\/www.reuters.com\/article\/mergersNews\/idUSN0335261020080603\" target=\"_blank\"><strong>Read Complete Article<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Reuters- U.S. railroad CSX Corp, locked in a proxy battle with two hedge funds, urged shareholders in a letter on Tuesday to vote against the activist investor group&#8217;s proposed slate of five directors, saying they had &quot;no plan&quot; for the [&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":[250,221,245,242,117,590,91,243,265,240],"class_list":["post-7826","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-business-strategy","tag-dan-hesse","tag-embarrassment","tag-img-src","tag-investment-arm","tag-investment-objective","tag-luxembourg","tag-percent-stake","tag-unsecured-creditors","tag-us-congress"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/7826","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=7826"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/7826\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=7826"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=7826"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=7826"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}