Sea-Land votes to accept a CSX buy-out offer.

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.