CARLYLE GROUP IN TALKS WITH CSX CORP. ON ACQUIRING CSX LINES

CARLYLE GROUP IN TALKS WITH CSX CORP. ON ACQUIRING CSX LINES    The Carlyle Group, based in Washington, D.C., a privately owned buyout firm, is talking with CSX Corp. about acquiring CSX Lines, the shipping line that services the U.S. coastline trade,    has discussed acquiring CSX Lines from CSX Corp. in recent days.
   Industry sources told AS+ that, while it was “premature” to speculate on a possible Carlyle acquisition, talks have occurred.
   “Nothing has been signed,” said one source. “It’s far from being a done deal. If anything comes out of it, we’re 10 to 20 days from knowing anything.”
   CSX Corp. said through a spokesperson that “it would not discuss rumors.”
   At least six investor groups have made offers to CSX Corp. for CSX Lines. A ranking financier of one of them, who asked for anonymity, told AS+ that CSX Corp. had turned down his group’s bid because “it wasn’t cash-heavy.”
   This source said a purchase price in the range of $275 million to $300 million, most of it in cash, would be likely if a Carlyle acquisition were to be consummated.
   The Carlyle Group, founded in 1987, has invested more than $6.6 billion in 247 corporate and real estate transactions with an aggregate investment value of $18 billion. According to a company statement on its Web site (https://www.thecarlylegroup.com), the firm had more than $13.5 billion of committed capital under management as of March 31.
   Frank Carlucci, U.S. Defense Secretary from November 1987 to January 1989, has been chairman of Carlyle since 1993. James A. Baker III, secretary of state in the first Bush administration, is senior counselor to the firm. John Major, former prime minister of the United Kingdom, serves as chairman of Carlyle Europe.
   The company was named for the Carlyle Hotel in New York, a favorite venue of an early investor.