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 s2024-05-21This Might Not Be It review: Behind the Perspex partition
This Might Not Be It (Bush Theatre, London)Verdict: Could be itRating:Thanks to this week's depressi2024-05-21Masterful meals: Pea and white truffle soup with Parmesan galettes
Roast pheasant, chocolate roulade and this sublime soup... a new book features spectacular dishes fr2024-05-21Queen Camilla praises Kate Middleton
An old video in which Queen Camilla praises the Princess of Wales's 'relaxed' and 'natural' approach2024-05-21NBA playoffs: Edwards leads Wolves to 98
DENVER (AP) — Anthony Edwards overcame a slow start and the Timberwolves roared back from a 20-point2024-05-21I lost everything I owned in a storage unit fire where I stored my possessions after a break
A woman who lost all her worldly possessions after a fire tore through a self-storage unit has revea2024-05-21
atest comment