( ) -q-27- UNDATED (Correspondent Jeremy House) “major freight railroads.” Norfolk Southern wants its shareholders to back its current management team and strategy and reject a bid from a group of investors to take control of the railroad. [CutID: <Cuts> NORFOLK-SOUTHERN-ANCORA-house-q-TUEam.mp3 Time: 27s Title: NORFOLK-SOUTHERN-ANCORA-house-q-TUEam Out-cue: major freight railroads] TAG: Correspondent Jeremy House reporting. Ancora […]
Audio
Norfolk Southern urges shareholders to reject activist investor’s takeover plan at the railroad
( ) -q-27- UNDATED (Correspondent Jeremy House) “major freight railroads.”
Norfolk Southern wants its shareholders to back its current management team and strategy and reject a bid from a group of investors to take control of the railroad.
[CutID: <Cuts> NORFOLK-SOUTHERN-ANCORA-house-q-TUEam.mp3
Time: 27s
Title: NORFOLK-SOUTHERN-ANCORA-house-q-TUEam
Out-cue: major freight railroads]
TAG: Correspondent Jeremy House reporting. Ancora wants to hire former UPS executive Jim Barber and former CSX chief operating officer Jamie Boychuk to run the the railroad.
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VERBATIM: Norfolk Southern has urged shareholders to reject Ancora Holdings’ eight board nominees. The railroad also nominated two new board members of its own — a former Amtrak CEO and a former U.S. Senator — to offer fresh perspective without derailing its current plan. Ancora argues that Norfolk Southern hasn’t done nearly enough to improve its efficiency because its profits and operations continue to lag those of other major freight railroads.