News / Boardroom battle at Norfolk Southern heats up as rail regulators weigh in

Photo: Alan Stoddard, Dreamstime.com

Activist investor Ancora Holdings, which has begun a battle to replace the management of Norfolk Southern Rail (NS), is experiencing headwinds from its embattled NS board and regulators who view the move as a bid to return to the “detrimental excesses” of precision railroading.

NS directors have urged shareholders to vote down the Ancora proposal and have nominated two new candidates for the board, to be elected at the general meeting this year.

In a letter to shareholders NS chair Amy Miles ...