Wednesday, April 18, 2007

Children's Looking for a Ride on CSX's Railroad

The Children's Investment Fund filed under Hart-Scott-Rodino to acquire more than $500 million of CSX Corp. (NYSE: CSX) stock.

From CSX's 10-Q filing: On March 15, 2007, CSX received notice from The Children's Investment Fund Management (U.K.) LLP that it had made a filing under the Hart-Scott-Rodino Antitrust Improvements Act to acquire more than $500 million of CSX stock. That firm has also advised CSX that it currently holds a significant economic position through common stock ownership and derivative contracts tied to the value of CSX stock. The Company is voluntarily furnishing this information.

If you remember, UK-based Children's Investment Fund was instrumental in getting ABN AMRO Holding N.V. (NYSE: ABN) to the auction block.

Recently, Warren Buffett disclosed a 10.9% stake in Burlington Northern Santa Fe Corp. (NYSE: BNI) and is said to be accumulating stakes in two other North American railroads yet to be disclosed.

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