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
Justin Timberlake set to bring his The Forget Tomorrow World Tour to Australia in 2025
Justin Timberlake is set to bring his The Forget Tomorrow World Tour to Australia next year.Daily Ma2024-05-21Grammys 2024: Music's elite gather for 66th annual awards
LOS ANGELES, CALIFORNIA - FEBRUARY 04: Miley Cyrus accepts the award for Record Of The Year for "Flo2024-05-21Prime Minister's Auckland office vandalised for third time in six months
Photo: SUPPLIED2024-05-21Good News: Stories that cheered us up for the week of 25
Photo: RNZ2024-05-21Adams, Reyna, Turner, Ream are US concerns ahead of Copa America
NEW YORK (AP) — Tyler Adams, Gio Reyna, Matt Turner and Tim Ream will be given the three weeks ahead2024-05-21Paul McCartney's stolen Beatles bass guitar found after 51 years
The Beatles in 1966 in Munich, Germany. Photo: Supplied/AFP2024-05-21
atest comment