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
Siblings trying to make US water polo teams for Paris Olympics
WALNUT, Calif. (AP) — Chase Dodd started swimming when he was just a kid. Once he began playing wate2024-05-21Judge awards $23.5 million to undercover St. Louis officer beaten by colleagues during protest
ST. LOUIS (AP) — A St. Louis judge on Monday awarded nearly $23.5 million to a former police officer2024-05-21Bill meant to improve math skills passes as Kentucky lawmakers approach end of legislative session
FRANKFORT, Ky. (AP) — Legislation aimed at improving the math skills of Kentucky students won final2024-05-21Women's soccer coach accused of sexual harassment in Brazil resigns after protests
SAO PAULO (AP) — The male coach of a Brazilian women’s soccer team resigned on Monday after accusati2024-05-21Strictly star Giovanni Pernice's former partner Rose Ayling
Giovanni Pernice has been dealt a fresh blow after friend and former Strictly dance partner Rose Ayl2024-05-21WNBA will pay for flights for playoffs and back
NEW YORK (AP) — The WNBA will once again pay for charter flights for the entire playoffs as well as2024-05-21
atest comment