Monday, 22 September 2014
Last updated 12 sec ago
May 6 2008 | 9:23am ET
Activist hedge fund The Children’s Investment Fund has fired a new salvo in its battle with U.S. railroad company CSX Corp. with a letter to CSX investors urging support for its board slate.
TCI and its partner, 3G Capital, asked investors to vote for their five-nominee slate, which includes TCI chief Christopher Hohn. The other four nominees have prior railroad or airline experience. The CSX board has 12 members.
“Today CSX lags its peers on many key operational metrics, while its management and directors continue to award themselves the industry’s highest compensation,” Hohn and 3G’s Alex Behring wrote in a letter sent to CSX investors yesterday. The two hedge funds own an 8.7% stake in CSX.
CSX and TCI have sued each other, alleging all manner of malfeasance. The railroad says the hedge fund has violated federal disclosure requirements, while the hedge fund says the railroad has illegally enriched its board of directors.
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Activist Hedge Fund TCI Targets Railroad Giant CSX
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.