Activist Ancora may turn to a reliable tactic to enhance value at Norfolk Southern
Publishing timestamp: 2024-02-10 08:18:35
Summary
Activist investor Ancora, led by investor group, has taken a position in Norfolk Southern and plans to run a proxy fight to replace the majority of the company's board and CEO. Norfolk Southern has underperformed its peers and could benefit from implementing a precision scheduled railroading (PSR) strategy. Ancora is likely to follow a similar strategy as seen in Canadian Pacific and CSX. The article suggests that a settlement or proxy fight is likely, with Ancora expected to win.
Sentiment: MIXED
Tickers: NSC,
Keywords: breaking news: investing, hedge funds, investment strategy, business news, norfolk southern corp,