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
Amir Khan's £11.5m luxury wedding venue finally hosts its first marriage: Bride arrives on horse
Amir Khan's £11.5million luxury wedding venue has finally hosted its first marriage after a series o2024-05-21The Yellowstone effect! House prices in these rural Wyoming towns have soared to an all
House prices have soared in rural Wyoming as wealthy Americans flock to the area drawn by outdoor ac2024-05-21Abuse allegations against former Olympic rower, coach found to be credible, US Rowing probe says
NEW YORK (AP) — U.S. Rowing stripped honors from a two-time Olympic medalist and nine-time Olympic c2024-05-21Rangers' Max Scherzer scratched from 2nd scheduled rehab start because of sore thumb
ARLINGTON, Texas (AP) — Texas Rangers right-hander Max Scherzer was scratched from his second schedu2024-05-21Kate Hudson hits the stage to debut songs from her new album Glorious at star
Kate Hudson looked like a pro as she performed songs from her new album Glorious for the first time.2024-05-21Cardinals rally to beat Tigers 2
DETROIT (AP) — Jack Flaherty tied an American League record with seven straight strikeouts to open a2024-05-21
atest comment