CSX – Hedge Fund Proposal

CSX Corp.‘s board yesterday called for a special meeting of shareholders to seek guidance on a proposal by a 4.9% shareholder New York hedge fund – Mantle Ridge LP, and former CEO of Canadian Pacific Railroad, E. Hunter Harrison.

The proposal would give the hedge fund greater control of the CSX  Board of Directors while making Mr. Harrison the CEO of the company with an unusually large compensation package:  $300 million dollars.

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