CSX in talks to reach deal with activist, ex-CP CEO: Reuters
CSX Corp is in early discussions with an activist investor over changes to its board and installing turnaround expert Hunter Harrison as the U.S. rail operator's CEO, sources told Reuters. CSX executives met with the activist, Paul Hilal of Mantle Ridge LP, and Harrison, the outgoing CEO of Canadian Pacific Railway Ltd, to discuss an agreement. Harrison's track record of cutting operating costs and driving up profitability at the helm of CP and at Canadian National Railway Co has helped CSX shares surge more than 30 percent since news of the Mantle Ridge plan surfaced. Mantle Ridge has raised more than US$1 billion for its CSX stake.
30 January 2017•2 mins read
