Investors trying to take control of Norfolk Southern railroad pick up key support
The activist investors trying to take control of Norfolk Southern’s board are picking up key support, but the railroad’s CEO promised Monday to fight the takeover attempt until a May 9 shareholder vote because he believes his strategy is the best in the long run for investors, customers and workers.
Ancora Holdings’ bid to elect seven new directors and replace management at the Atlanta-based railroad has gained the backing of one of the major proxy advisory firms, one of the railroad’s biggest customers and two of its largest labor unions in recent days.
But CEO Alan Shaw said he believes he still has the support of most of the railroad’s workers, investors and customers.
“The choice really couldn’t be any more clear for our shareholders,” Shaw said an interview with The Associated Press. “We make promises and we’ve continued to keep our promises, and we will continue to deliver. And we’ve got a long-term vision for Norfolk Southern where shareholders win, as opposed to the activists who’ve got a short-term and erratic approach where shareholders lose.”
Related articles
Burglar hurled stolen mobile phones at police from the top of 60ft high roof during nine
A burglar hurled stolen mobile phones at police officers from the top of a roof during a nine-hour s2024-05-21Why foreign enterprises double down on investment in China
* Eyeing China's huge and more open market, comprehensive industrial system, and improved business e2024-05-21Xi Story: Homage to Heroes of Chinese Nation, Celebrated or Unsung
Contact Us HomeNewsHighlightACWF NewsSocietyWom2024-05-21China prepares to launch space station core module
China's new large carrier rocket Long March-5B blasts off from Wenchang Space Launch Center in south2024-05-21Independent UN experts urge Yemen’s Houthis to free detained Baha'i followers
CAIRO (AP) — Human rights experts working for the United Nations on Monday urged Yemen’s Houthi rebe2024-05-21Ozone layer's repair could slow climate change
An influential panel of UN-backed scientists say that airborne chemicals that had been destroying th2024-05-21
atest comment