(TCI and 3G issued the following on July 31.)
NEW YORK — 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.