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
Beijing improves services to facilitate film and television projects
Beijing launched its film and television production service mechanism on Wednesday amid the bustling2024-04-30United Methodists endorse change that could give regions more say on LGBTQ and other issues
United Methodist delegates have overwhelmingly endorsed a constitutional amendment seen by advocates2024-04-3017 states challenge federal rules entitling workers to accommodations for abortion
LITTLE ROCK, Ark. (AP) — Republican attorneys general from 17 states filed a lawsuit Thursday challe2024-04-30ACC Spring Wrap: League champ Florida State and ACC deal with quarterback changes
Florida State coach Mike Norvell, like most every other coach in the Atlantic Coast Conference and a2024-04-30UAB football team becomes first in NCAA Division I to sign with college athlete organization
UAB became the first Division I football team to join a fledgling organization that hopes to represe2024-04-30Bernie Williams is back in center
NEW YORK (AP) — Bernie Williams was in the center, just like the old days at Yankee Stadium. Only th2024-04-30
atest comment