This story was updated at 6:43 p.m.
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 control of the railroad.
The Atlanta-based railroad urged shareholders to reject Ancora Holdings’ eight board nominees in a proxy statement 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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