(Reuters circulated the following on June 17.)
NEW YORK — A major proxy solicitation service on Tuesday recommended that shareholders of rail company CSX Corp. 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.