ROANOKE TIMES 

                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: SATURDAY, March 24, 1990                   TAG: 9003242397
SECTION: BUSINESS                    PAGE: A5   EDITION: METRO 
SOURCE: 
DATELINE: RICHMOND                                LENGTH: Short

INDEPENDENT DIRECTORS URGE MERGER

RF&P Corp.'s independent directors voted Friday to urge the railroad's full board to hold CSX Corp. to a $385 million merger deal, at least until RF&P's shareholders get a chance to vote on the $34.50-a-share offer.

The decision came three days after CSX announced that it wanted to pull out of the deal because of controversy surrounding the merger. Under the terms of the proposal, both companies' boards must agree to terminate the merger.

CSX operates 19,000 miles of track in 20 states, the District of Columbia and Ontario, Canada. RF&P has 113 miles of track between Richmond and the Northern Virginia suburbs of Washington, D.C. Both companies also have extensive commercial real estate interests.

- Staff report 


 by CNB