Member LoginMember Login - User registration - Setup as front page - Add to favorites - Sitemap Investors trying to take control of Norfolk Southern railroad pick up key support !

Investors trying to take control of Norfolk Southern railroad pick up key support

Time:2024-05-21 16:27:08 source:International Index news portal

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 information
  • Nadal returns to Roland Garros to practice amid doubts over fitness and form
  • For mom this Mother's Day, why not make homemade jam? Just don't tell her how easy it is
  • Israel marks memorial day, as Palestinians flee Rafah. Follow the latest
  • Bleday homers, Estes earns first win as A's beat Mariners 8
  • Elon Musk gets approval from FDA to implant his Neuralink brain chip into a second patient
  • 'Kingdom of the Planet of the Apes' reigns at the box office with $56.5 million opening
  • Alex Scott looks every inch the golden goddess in a figure
  • Inside Rob Beckett and Romesh Ranganathan's long
Recommended content
  • Siblings trying to make US water polo teams for Paris Olympics
  • Real Madrid celebrates Spanish league title with fans after reaching Champions League final
  • Rangers look to regroup as they return home with 3
  • Antiques Roadshow guest's shock as his passion project book's real value is revealed
  • NBA playoffs: Edwards leads Wolves to 98
  • Australia: Plane lands without landing gear after burning off fuel