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A potential settlement between the railroad and activist investor Paul Hilal could emerge shortly that would bring in Hunter Harrison, who is well-regarded for his turnaround of Canadian Pacific Railway.
Hunter Harrison forfeited $84 million in pay when he left Canadian Pacific in January.
Ward's departure by May and expected layoffs are yet another indication that an agreement between the railroad giant and activist investor Paul Hilal of Mantle Ridge LP may be close.
The insurgent investor, which has been hounding CSX for weeks, offered a compromise proposal that may eliminate the need for a soon-to-be-scheduled shareholder vote on the matter.
The installation of the veteran executive is a real possibility, given he has teamed up with an ex-Pershing Square activist, Paul Hilal, to target the Jacksonville, Fla.-based railroad
The installation of the veteran executive is a real possibility, given he has teamed up with an ex-Pershing Square activist, Paul Hilal, to target the Jacksonville, Fla.-based railroad.
The railroad giant is seeking guidance from investors about whether to support an activist investor's proposals to replace the company's CEO and obtain six director seats.
The railroad's move suggests that a newbie activist fund is still in talks with the railroad over a possible board overhaul.
These big stocks are teetering on the edge of breakout territory.
Activist Elliott Management's insurgency campaign's focus on replacing the aerospace component manufacturer's CEO, Klaus Kleinfeld, suggest that prospects for a settlement are extremely low.
The railroad is in discussions with Mantle Ridge over the firm's desire for board seats and a management role for industry veteran Hunter Harrison. Plus Jim Cramer's comments.
The opportunity to score profits in this stock appears to be bigger than for investors in its rivals.
CSX has shot up in 2017. Investors are wondering if there is more upside in the stock.
Cramer shares his views on the cost of being a 'fundamentalist,' and what the real story is behind the railroad stocks.
The stock sell-off continues.
The transport company gained more than $8 billion in market capitalization on hopes that an activist campaign is forthcoming. Be warned, it's a long road ahead.
The Dow Jones Industrial Average falls for its fifth straight session on Thursday, further distancing itself from recent records, in the countdown to the inauguration of President-elect Donald Trump.
CSX presents a big opportunity for two activists seeking to turn around the railroad, but there are risks.
Shares of CSX were soaring over 19% during afternoon trading on Thursday.
This guy has driven some impressive results.
U.S. stocks hold lower one day before the inauguration of President-elect Trump.
Should you get on board with railroad stocks? Here's what Jim Cramer thinks.
Stocks hold lower on Thursday morning in shaky trading one day before the inauguration of President-elect Donald Trump.
Here are the must-know details affecting one of the largest railroads in the U.S.
Two activists have set to shake up management at CSX.
Stock futures edge lower on Thursday as new residential housing construction picks up and jobless claims continues to decline.
The real story is the fact that they moved as much as they did.
U.S. stock futures slip Thursday ahead of data on the U.S. housing market and a policy meeting from the European Central Bank.
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