TCI and 3G Comment on Certification of CSX Election Results
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Certified Results Confirm CSX Shareholders Have Elected Behring,
Hohn, Lamphere and O'Toole to Board of Directors
NEW YORK--(Business Wire)--
The Children's Investment Fund Management (UK) LLP ("TCI") and 3G
Capital Partners, Ltd. ("3G") today issued the following statement
regarding the independent inspector's certification of the final
results of the CSX Corp. (NYSE: CSX) board of directors election:
"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. 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 certified results also confirm that the TCI/3G special meeting
proposal, which allows special meetings to be called for any purpose
by holders of 15% of the outstanding shares, was approved and the
by-law amendment proposed by CSX, which effectively would prohibit
shareholders from calling special meetings to elect directors, was
rejected. 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.
About TCI
TCI is a London-based asset manager founded in 2003 which manages
The Children's Investment Master Fund. TCI makes long-term investments
in companies globally. The management company is authorized and
regulated in the United Kingdom by the Financial Services Authority.
The majority of TCI's profits go to The Children's Investment Fund
Foundation, a non-profit organization focused on improving the lives
of children living in poverty in developing countries.
About 3G
3G manages a private investment fund that invests in global
equities and special situations. 3G Fund L.P. leverages its deep
industry and operating expertise in different sectors to identify
attractive, long-duration investment opportunities.
Sard Verbinnen & Co.
George Sard/Renee Soto, 212-687-8080
Copyright Business Wire 2008
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