Ancora, Norfolk Southern strike settlement deal to avert proxy fight
Southern Company(SO) CNBC·2024-11-14 22:04
Norfolk Southern and activist Ancora struck a deal to avert a second proxy fight in as many years, the railroad announced Thursday morning.Norfolk's board will expand from 13 members to 14 members as part of the settlement, the railroad said. An unspecified candidate will join the railroad's board after a search process, the company said. Ancora had nominated four candidates to Norfolk's board in anticipation of an eventual proxy fight but withdrew those candidates as part of the cooperation agreement.Ancor ...