CSX investor's agreement for cash-settled equity swap becomes effective

By Lisa Kerner

Charlotte, N.C., Jan. 2 - CSX Corp. investor the Children's Investment Fund Management (UK) LLP said its previously announced cash-settled equity swap with Citibank Global Markets Ltd. became effective Wednesday.

The new swap constitutes economic exposure to the same number of shares as the previous swaps with Citibank, or about 4.6% of the shares, according to a schedule 13D/A filed with the Securities and Exchange Commission.

Children's Investment Fund also said two cash-settled equity swaps expired on Dec. 11 and Wednesday.

The investor beneficially owns a total of 35,787,048 shares, or 9.1% of the company's outstanding shares.

CSX is a Jacksonville, Fla.-based railroad and transportation company.

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