{"id":158956,"date":"2025-08-19T17:46:20","date_gmt":"2025-08-19T17:46:20","guid":{"rendered":"https:\/\/www.europesays.com\/us\/158956\/"},"modified":"2025-08-19T17:46:20","modified_gmt":"2025-08-19T17:46:20","slug":"toms-capital-seeks-csx-meeting-after-acquiring-stake-sources-say","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/158956\/","title":{"rendered":"Toms Capital seeks CSX meeting after acquiring stake, sources say"},"content":{"rendered":"\n<p class=\"yf-1090901\">By Svea Herbst-Bayliss<\/p>\n<p class=\"yf-1090901\">NEW YORK (Reuters) -Hedge fund Toms Capital Investment Management has requested to meet with the board at U.S. railroad operator CSX (<a data-i13n=\"cpos:1;pos:1\" href=\"https:\/\/finance.yahoo.com\/quote\/CSX\" data-ylk=\"slk:CSX;cpos:1;pos:1;elm:context_link;itc:0;sec:content-canvas\" class=\"link \" target=\"_blank\" rel=\"noopener\">CSX<\/a>) after recently buying a stake, people familiar with the matter said, raising speculation the firm may push for a possible merger.<\/p>\n<p class=\"yf-1090901\">Toms Capital, run by Ben Pass, invested in the railroad during the second quarter, holding 5.6 million shares of common stock in CSX as of June 30, a new filing showed.<\/p>\n<p class=\"yf-1090901\">It is unclear exactly what the firm wants but Pass has a history of pushing for mergers at companies like US Steel and the Band-Aid and Tylenol maker, Kenvue (<a data-i13n=\"cpos:2;pos:1\" href=\"https:\/\/finance.yahoo.com\/quote\/KVUE\" data-ylk=\"slk:KVUE;cpos:2;pos:1;elm:context_link;itc:0;sec:content-canvas\" class=\"link \" target=\"_blank\" rel=\"noopener\">KVUE<\/a>).<\/p>\n<p class=\"yf-1090901\">The hedge fund invested and is reaching out to the company at a time speculation is mounting that fresh railroad mergers are likely after Union Pacific and Norfolk Southern inked a deal last month.<\/p>\n<p class=\"yf-1090901\">Unlike some activist investors, Toms Capital prefers to stay in the background and push for changes out of the limelight, rather than launching public and noisy campaigns.<\/p>\n<p class=\"yf-1090901\">A representative for Toms Capital declined to comment. CSX did not immediately respond to a request for comment.<\/p>\n<p class=\"yf-1090901\">CSX is no stranger to activist investors and previously worked with investor Mantle Ridge, whose founder Paul Hilal, now serves on the CSX board.<\/p>\n<p class=\"yf-1090901\">Toms is not the only firm to have invested in the railroad during the second quarter. Ancora Holdings also established a toehold investment and has been considering more purchases, a person familiar with the firm&#8217;s trading patterns said.<\/p>\n<p class=\"yf-1090901\">A spokesman for Ancora declined to comment.<\/p>\n<p class=\"yf-1090901\">Ancora has a history of pushing for changes and won board seats last year at rival railroad Norfolk Southern.<\/p>\n<p class=\"yf-1090901\">Speculation about CSX&#8217;s future has come into sharper focus in the wake of rival railroad Union Pacific&#8217;s decision in July to acquire Norfolk Southern in a $71.5 billion deal. The U.S. Surface Transportation Board will still have to sign off on the deal.<\/p>\n<p class=\"yf-1090901\">Investors have said CSX needs to find a partner of its own now, raising the possibility of potential talks with Berkshire Hathaway-owned BNSF Railway and others.<\/p>\n<p class=\"yf-1090901\">(Reporting by Svea Herbst-Bayliss. Editing by Dawn Kopecki and Marguerita Choy)<\/p>\n","protected":false},"excerpt":{"rendered":"By Svea Herbst-Bayliss NEW YORK (Reuters) -Hedge fund Toms Capital Investment Management has requested to meet with the&hellip;\n","protected":false},"author":3,"featured_media":158957,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[92266,64,92265,92267,92264,67,132,68],"class_list":{"0":"post-158956","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-ben-pass","9":"tag-business","10":"tag-norfolk-southern","11":"tag-toms","12":"tag-toms-capital","13":"tag-united-states","14":"tag-unitedstates","15":"tag-us"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/115056684881938381","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/158956","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=158956"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/158956\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/158957"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=158956"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=158956"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=158956"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}