Academic

Bernard Black and Henry Hu, colleagues at the University of Texas, and authors of an interesting article on empty shareholder voting, appear to get along.  But not, apparently, with regard to the CSX dispute, in which Black has filed letters and briefs in support of the hedge funds mounting the proxy fight and Hu has filed one on behalf of CSX's management.  We'd call it something cute like the Annihilation in Austin or the Civil War in Hivill Country if we didn't suspect that Black and Hu will probably make up over some expensive cigars or something once this litigation is said and done.  Anyway, I started writing this - been away awhile, and behind my research on the internet - only to find that Larry Ribstein has already said it all better.

The CSX takeover dispute, by the way, because it involves a British acquirer, has got the unions and management looking to Congress and CFIUS to block the transaction - it's like we keep we keep telling you: CFIUS is the hot new corporate defense device.

HT: Securities Mosaic