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
Young Boys seals 6th Swiss soccer league title in 7 years after rallying from firing coach Wicky
GENEVA (AP) — Young Boys sealed its sixth Swiss league title in seven years by winning at Servette 12024-05-21Rainbow seen at Hukou Waterfall scenic spot in China's Shaanxi
A rainbow is seen at the Hukou Waterfall scenic spot on the Yellow River, which is located on the bo2024-05-21Autumn scenery at Pofengling Scenic Area in Beijing
Aerial photo taken on Oct. 18, 2020 shows the autumn colors at Pofengling Scenic Area in Fangshan Di2024-05-21- Contact Us HomeNewsHighlightACWF NewsSocietyWom2024-05-21
Adams, 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 ahead2024-05-21- Contact Us HomeNewsHighlightACWF NewsSocietyWom2024-05-21
atest comment