Sea-Land votes to accept a CSX buy-out offer.
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The board of the containerized shipping company agreed to permit CSX Corp. to acquire its outstanding shares for $28 per share. The Richmond, Va.-based railroad holding company’s offer has been valued at $742 million. The agreement comes after a prolonged battle between Sea-Land and Dallas investor Harold Simmons. Under the acquisition plan, an unidentified CSX subsidiary will begin a cash tender offer this week for the shares.
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