Proxy group backs four dissident CSX nominees

Tue Jun 17, 2008 9:52pm EDT
 
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NEW YORK, June 17 (Reuters) - A major proxy solicitation service on Tuesday recommended that shareholders of rail company CSX Corp (CSX.N) vote in favor of four nominees from a dissident shareholders' group, a major endorsement of the alternative slate of nominees.

Proxy adviser RiskMetrics Group recommended that shareholders vote for four out of five candidates put forward by two hedge funds, Children's Investment Fund Management and 3G Capital Partners.

The two hedge funds have been fighting an acrimonious battle to have their minority slate elected to the CSX board at its annual shareholders meeting on June 25.

The four nominees that RiskMetrics recommended are Alex Behring, Christopher Hohn, Gil Lamphere and Tim O'Toole. RiskMetrics did not recommend the dissidents' fifth candidate, Gary Wilson. (Reporting by Dane Hamilton; Editing by Braden Reddall)

 

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