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
Ricky Stenhouse punching Kyle Busch could lead to suspension
NORTH WILKESBORO, N.C. (AP) — Ricky Stenhouse Jr. threw a right hook at Kyle Busch, and suddenly, an2024-05-21I got married at the top of a 2,600
A skiing-obsessed bride took her entire wedding party to the top of a 2,600-metre snowy mountain to2024-05-21- An Enemy Of The People (Duke of York’s Theatre, London)Verdict: More likely to make us demand our mo2024-05-21
Jennifer Lopez bares her washboard abs in a tiny grey crop top and low
Jennifer Lopez showed off her enviable abs in a tiny grey crop top and a pair of low-rise sweatpants2024-05-21Jon Wysocki dead at 53: Staind drummer passes away
The music world is in mourning this Sunday, with word that original Staind drummer Jon Wysocki passi2024-05-21Signs of sharp wit! These funny notices left customers in fits of laughter
Signs are an important way to ensure people know where they are, where they're going and they also s2024-05-21
atest comment