NSC Jun 2024 125.000 put
| Previous Close | 1.0000 |
| Open | 1.0000 |
| Bid | 0.1000 |
| Ask | 0.7500 |
| Strike | 125.00 |
| Expire Date | 2024-06-21 |
| Day's Range | 1.0000 - 1.0000 |
| Contract Range | N/A |
| Volume | |
| Open Interest | 13 |
Associated Press FinanceInvestors trying to take control of Norfolk Southern railroad pick up key support
The activist investors trying to take control of Norfolk Southern's board are picking up key support, but the railroad's CEO promised Monday to fight the takeover attempt until a May 9 shareholder vote because he believes his strategy is the best in the long run for investors, customers and workers. Ancora Holdings' bid to elect seven new directors and replace management at the Atlanta-based railroad has gained the backing of one of the major proxy advisory firms, one of the railroad's biggest customers and two of its largest labor unions in recent days. “The choice really couldn’t be any more clear for our shareholders,” Shaw said an interview with The Associated Press.
- Reuters
UPDATE 1-Ancora scores in Norfolk Southern proxy fight with Glass Lewis recommendation
Ancora Holdings scored a victory in its battle with Norfolk Southern on Monday when proxy advisory firm Glass Lewis recommended investors in the railway replace its CEO and others with six of the activist investor's board director candidates. Glass Lewis said that CEO Alan Shaw and other long-serving directors shoulder much of the blame for Norfolk Southern's underperformance and that it is time for a board shake-up. "Ancora has presented a compelling case for supporting a substantial overhaul of the Company's current leadership," said the Glass Lewis report, which was seen by Reuters.
ReutersAncora scores in Norfolk Southern proxy fight with Glass Lewis recommendation
Glass Lewis said that CEO Alan Shaw and other long-serving directors shoulder much of the blame for Norfolk Southern's underperformance and that it is time for a board shake-up. "Ancora has presented a compelling case for supporting a substantial overhaul of the Company's current leadership," said the Glass Lewis report, which was seen by Reuters. Ancora is seeking to replace Shaw with Jim Barber, a former United Parcel Service executive, who Glass Lewis said had "compelling credentials".
