Norfolk Southern urges shareholders to reject a takeover bid, maintaining its current strategy of running fewer, longer trains since 2019.
Norfolk Southern is urging its shareholders to support the company's management team and strategy and reject a takeover bid from a group of investors seeking to take over the railroad. The railroad argues that accepting the investors' proposal will provide valuable fresh perspective without derailing its current plan. The company's current strategy, implemented since 2019, relies on running fewer, longer trains on a tighter schedule, reducing the need for crews, locomotives, and maintenance workers.
February 25, 2024
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