Deals
Silence at CSX May Signal Takeover by Harrison as Deadline Looms
- Activist investor Hilal has until Friday to nominate directors
- ‘I think no news is probably good news,’ analyst says
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A shareholder bid to have turnaround specialist Hunter Harrison replace CSX Corp.’s chief executive appears headed toward a deal, analysts said, as a deadline looms Friday for nominating dissident directors.
Harrison, who has improved results at three railroads, teamed with activist investor Paul Hilal in an attempt to unseat CSX Chief Executive Officer Mike Ward. The shares have soared 29 percent since CSX was confirmed as Harrison’s target Jan. 19. Negotiations between the Harrison team and the Jacksonville, Florida-based carrier have been shrouded in silence since.