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
- The Democratic People's Republic of Korea (DPRK) on Tuesday successfully test-fired an intermedi2024-04-30
China Beat S. Korea in AFC Women's Asian Cup Final
Contact Us HomeNewsHighlightACWF NewsSocietyWom2024-04-30Space devices help taikonauts maintain their health in zero gravity
BEIJING, April 10 (Xinhua) -- As China works to send more taikonauts on long-term missions in space,2024-04-30Children Find Snow Sports Cool, Survey Reveals
Contact Us HomeNewsHighlightACWF NewsSocietyWom2024-04-30British and Irish officials meet as tensions rise over what to do with asylum seekers
LONDON (AP) — British and Irish officials met Monday as tensions rise over the movement of asylum se2024-04-30China's Woman Astronaut Sends Int'l Women's Day Greetings from Space
Contact Us HomeNewsHighlightACWF NewsSocietyWom2024-04-30
atest comment