Hedge Funds Claim Victory in CSX Proxy Vote

June 27th, 2008
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The Children's Investment Fund (TCI) and 3G Capital Partners, the two hedge funds seeking changes at CSX, claimed that they had won 4 board seats at the special meeting held on June 25 based on preliminary voting results. CSX executives said that the votes were too close to call, and a final result may not be announced until July 25. The funds are pushing for more "shareholder- friendly" management and have criticized the current management's strategy and the company's profitability. The fight between the hedge funds and CSX has become increasingly public with CSX appealing to Congress and the two sides appearing in court.
For Detailed Investor Profiles on these Investors, click below:
3G Capital Management
The Children's Investment Fund Mgmt
Related People: Chris Hohn; Cory Bailey; Marc Mezvinsky; Pavel Begun
Related Entities: 3G Capital Partners LP; Children's Investment Master Fund; Childrens Investment Fund LP; Childrens Investment Fund Management (UK) LLP; Synergy Fund; TCI; The Children's Investment Fund; The Children's Investment Fund Foundation

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