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
Chinese enterprises keen to expand int'l market: Trade council
China's national trade promotion system issued 2,954 Admission Temporaire/Temporary Admission (A2024-04-30- TORONTO (AP) — The Toronto Blue Jays activated All-Star closer Jordan Romano and fellow right-hander2024-04-30
Princess Martha Louise has pre
Princess Martha Louise of Norway has furiously hit back at her future mother-in-law's claims that Du2024-04-30Governor's pandemic rules for bars violated North Carolina Constitution, appeals court says
RALEIGH, N.C. (AP) — North Carolina Gov. Roy Cooper’s orders during the COVID-19 pandemic that direc2024-04-30Music and martial arts witness China
French martial arts enthusiasts practice traditional Chinese Qigong breathing exercises at the Mount2024-04-30Connecticut's top public defender denies misconduct claims as commission debates firing her
HARTFORD, Conn. (AP) — Connecticut’s top public defender fought to keep her job Tuesday as an oversi2024-04-30
atest comment