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.” |
Fists fly as men in line for ride at popular Virginia park come to blowsVideo shows Robert De Niro rehearsing for a Netflix series, not yelling at antiRed Bull chief technical officer Adrian Newey to step down from F1 teamInfielder Zack Short acquired by Red Sox from Mets for cashMICHAEL MOSLEY: How ultraTrump awarded 36 million more Trump Media shares worth $1.8 billion after hitting price benchmarksMississippi Medicaid expansion plan could struggle for bipartisan support, Democratic leader saysGolden Knights goalie Adin Hill will start Game 5 against the Stars30 people are injured when a trailer overturns in southwestern GermanyFamily of Microsoft executive Brad Smith joins Seattle Mariners ownership group