News / Sniping starts as battle for control of Norfolk Southern Railway heats up

Photo: © Jonathan Weiss | Dreamstime.com

Norfolk Southern Railway’s (NS) management and activist investor Ancora Holdings, trying to oust it, are sniping at each other via public statements and letters to shareholders in the run-up to the annual meeting on 9 May.

In early February, Ancora, which has amassed about $229m in NS shares, proposed seven candidates for the board from its own ranks, including replacements for CEO Alan Shaw and COO John Orr, claiming this could could drive up the NS share ...