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
Tigers and Cardinals rained out, will play a traditional doubleheader on Tuesday
DETROIT (AP) — The game between the Detroit Tigers and St. Louis Cardinals was postposed Monday nigh2024-04-30Taylor Swift 'calls out Kadarius Toney' on The Tortured Poets Department song about Travis Kelce
The Taylor Swift fans that have been converted into football followers have joked she has called out2024-04-30Standing in the shadows of giants: 1,475 statues fill the landscape beside D
An impressive 1,475 statues have filled the landscape beside a D-Day memorial overlooking France's G2024-04-30BNSF Railway says it didn't know about asbestos that's killed hundreds in Montana town
HELENA, Mont. (AP) — BNSF Railway attorneys are expected to argue before jurors Friday that the rail2024-04-30Who is Humza Yousaf's wife Nadia El
As Humza Yousaf sensationally resigned today, capping an extraordinary meltdown triggered by sacking2024-04-30Italy earns 5th Champions League spot for next season because of overall success in Europe
ROME (AP) — Italy is the first nation to benefit from UEFA’s move to award an extra Champions League2024-04-30
atest comment