The history of playground fights and corporate takeovers shows that winners don't have to play nice. Add another chapter to that book with Wednesday's announcement that two activist hedge funds succeeded in getting four of their five nominees elected to CSX Corp.'s 12-person board. Last month the funds had been verbally bludgeoned by a federal judge for "crossing the line" dividing legal from illegal activity and then using "formalistic arguments" to justify their bad acts.
July 17, 2008 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
The history of playground fights and corporate takeovers shows that winners don’t have to play nice.
Add another chapter to that book with the announcement Wednesday that two activist hedge funds, represented by Schulte Roth & Zabel and Kirkland & Ellis, succeeded in getting four of their five nominees elected to CSX Corp.’s 12-person board. (The vote was held at the company’s June 25 annual meeting, but the preliminary results were not announced until Wednesday.)
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