Ancora Holdings Group LLC
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NS to Add New Independent Board Member
Norfolk Southern (NS) on Nov. 14 reported entering into a “cooperation agreement” with Ancora Holdings Group, LLC (together with certain of its affiliates; Ancora) in which the organizations will work together…
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Class I Briefs: NS, BNSF
Norfolk Southern (NS) hosts the Rail Coalition of Advanced Safety Technology (RailCAST) meeting in Georgia. Also, BNSF’s Hobart and Fresno facility teams in California celebrate safety achievements, and its dimensional…
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Norfolk Southern Pulling Out of the Station After Proxy Fight, Leaving Activist Ancora in the Dust
As we predicted last month, shareholders resoundingly rejected an attempt by activist investor Ancora to take control of Norfolk Southern’s board and fire CEO Alan Shaw at Norfolk Southern’s annual…
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For NS, a Final White-Card Push
May 8, 2024: With its Annual Meeting of Shareholders just hours away, Norfolk Southern in the past few days has ramped up its efforts to convince shareholders to reject the…
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NS vs. CSX Recrews
In our prior report, we highlighted Ancora’s fraught and incurious NS vs. CSX operational benchmarking, specifically terminal dwell and trains holding for power. We took particular issue with the extraordinarily…
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ISS Endorses NS Director Slate—Mostly (Updated)
ISS—not the International Space Station weighing in from 1.33 million feet (246 miles) above the earth’s surface in orbit, but that other ISS, proxy advisory firm Institutional Shareholder Services—is endorsing…
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Some Questionable NS vs. CSX Analysis
On April 18, Ancora hosted a townhall in New York City for Norfolk Southern stockholders, and during that meeting [potential new NS board member] Gil Lamphere implored the audience to…
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Shipper Survey Indicates ‘Significant Concern’ Over NS Takeover Attempt
Little Rock, Ark.-based analyst Stephens Inc. on April 4 released the results of a survey, Rail Shipper Survey on the Activist Campaign at NSC, conducted with Norfolk Southern shippers that…
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NS: ‘Committed to Enhancing Safety, Aligning Management With Shareholder Interests’
Ancora Holdings Group LLC, which has launched a formal takeover attempt of Norfolk Southern (NS), issued a statement critical of the railroad’s safety record and calling for the removal of…
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NS Files Preliminary Proxy Statement in Takeover Battle
Norfolk Southern on Feb. 26 filed preliminary proxy materials (Schedule 14A) with the Securities and Exchange Commission (SEC) in connection with its upcoming 2024 Annual Meeting of Shareholders, to be…
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Ancora Accelerates Personal Attacks on NS’s Shaw
Editor’s Note: As expected, things are getting ugly. The latest press release from Ancora Holdings Group, LLC is taking the personal attacks on Norfolk Southern President and CEO Alan Shaw…
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Ancora Accelerates NS Takeover Attempt (Updated)
Ohio-based Ancora Holdings Group LLC, with affiliates and other participants—collectively called the “Investor Group”—on Feb. 20 launched a formal takeover attempt of Norfolk Southern, announcing eight prospective board members, a…