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
1 military horse under observation, another to recover fully, British Army says
LONDON (AP) — One of the military horses that broke away from their trainers and galloped through th2024-04-30Xi Story: Prioritizing Regular Physical Exercises from an Early Age
Contact Us HomeNewsHighlightACWF NewsSocietyWom2024-04-30Xiplomacy: China, Algeria Mark Anniversary of Ties with Eyes on Stronger Partnership
Contact Us HomeNewsHighlightACWF NewsSocietyWom2024-04-30Chinese scientific expedition team returns safely to Mount Qomolangma base camp
Members of a Chinese scientific expedition team are on the way back to the Mount Qomolangma base cam2024-04-30Nvidia to buy Israeli AI company for estimated $700M
U.S. technology giant Nvidia signed an agreement to acquire Israeli artificial intelligence company2024-04-30- Aerial photo taken on July 28, 2022 shows a view of Xiong'an New Area, north China's Hebei Province.2024-04-30
atest comment