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February 27, 2024

Norfolk Southern urges shareholders to reject investor group takeover

AP Business Writer

OMAHA, Neb. — Norfolk Southern wants its shareholders to back its current management team and strategy and reject a bid from a group of investors seeking to take over the railroad.

The Atlanta-based railroad urged shareholders to reject Ancora Holdings' eight board nominees when it filed its proxy Monday morning with the Securities and Exchange Commission. Norfolk Southern also nominated two new board members of its own — a former Amtrak CEO and a former U.S. Senator — that the railroad argues will provide valuable fresh perspective without derailing its current plan.

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