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
Nadal returns to Roland Garros to practice amid doubts over fitness and form
PARIS (AP) — Rafael Nadal returned to Roland Garros on Monday to practice and try and figure out whe2024-05-21Northerners head south for warmth
While people from southern provinces are attracted to the snowy winter scenery in North China, peopl2024-05-21China State Shipbuilding Corp wins world's first ammonia
China State Shipbuilding Corp has obtained an order to sell its ammonia powered container ships to B2024-05-21Xi Story: Homage to Heroes of Chinese Nation, Celebrated or Unsung
Contact Us HomeNewsHighlightACWF NewsSocietyWom2024-05-21Independent UN experts urge Yemen’s Houthis to free detained Baha'i followers
CAIRO (AP) — Human rights experts working for the United Nations on Monday urged Yemen’s Houthi rebe2024-05-21SOEs' AI push may transform industries
China's move to promote advancements in artificial intelligence technologies among its centrally-adm2024-05-21
atest comment