Activist investor wins backing of union representing Norfolk Southern maintenance of way employees (updated)

TrainsMag.com— CLEVELAND – The union representing Norfolk Southern’s maintenance of way employees has thrown its support behind activist investor Ancora Holdings. The Brotherhood of Maintenance of Way Employes Division of the International Brotherhood of Teamsters said today that a change in leadership is necessary at NS. The union is backing Ancora’s full slate of director candidates []Read More

TrainsMag.com—Norfolk Southern loses support of engineers’ union in proxy battle with activist investor (updated). INDEPENDENCE, Ohio — The Brotherhood of Locomotive Engineers and Trainmen is now backing activist investor Ancora Holdings and its call for management change at Norfolk Southern. The union’s decision, announced today, is the second in as many days: The union representing maintenance of way workers yesterday swung its support to Ancora. The unions represent 41.5% []Read More

CNBC—Proxy advisor ISS says unions and pension funds should back Norfolk Southern activist investor. ESG-focused investors and unions should back Norfolk Southern activist Ancora and its CEO pick Jim Barber, Institutional Shareholder Services said on Thursday.

TrainsMag.com—Proxy advisory firm backs Norfolk Southern CEO Alan Shaw and five of activist investor’s board candidates. Norfolk Southern shareholders should elect five of an activist investor’s seven board candidates but retain embattled CEO Alan Shaw, proxy advisory firm Institutional Shareholder Services recommended today. If institutional shareholders follow the ISS guidance at the NS annual meeting on May 9, it would leave Ancora Holdings two seats short of a majority on the []Read More