Ancora Accelerates NS Takeover Attempt

[Ntrainz1]

"Ohio-based Ancora Holdings Group, LLC, with affiliates and other participants—collectively called the “Investor Group”—on Feb. 20 launched a formal takeover attempt of Norfolk Southern, announcing eight prospective board members, a new CEO and a new COO."

https://www.railwayage.com/freight/class-i/ancora-accelerates-ns-takeover-attempt/?utm_source=&utm_medium=email&utm_campaign=44263

[wm3798]

One of the stated objectives is to increase the value of the shares.  Nothing drives up a stock price like a takeover attempt.  And nothing sends a stock price into the dumper like a takeover attempt.

The group has some interesting parties involved, but a few of them are EHH disciples... Looks like another round of facilities closing and train wrecks, if you ask me.

Lee

[jagged ben]

The editor's note at the very bottom, whatever you might think of it, is surely the most entertaining part. 🍿

[signalmaintainer]

Ancora is a hedge fund. Thus "moving NS forward" means "squeezing every penny out in profit by cutting into safety and exploiting employees. Then walk away scot free from the resulting disaster."

Maybe there's need for legislation preventing hedge funds and holding companies from acquiring railroads. It's long past time for the railroad industry to come under the heading of "public utility," anyway.

[Ed Kapuscinski]

It's getting increasingly difficult to talk about solutions to problems like this without getting political.

I know I keep saying it, but public corporations exist for one, value judgement free, reason: to increase the value of their owners investment in them.

Our freedom and liberty means that we're free to invest in any company we want. If one doesn't perform we're free to invest in another that does.

The same applies to individuals and companies alike because those companies are made up of people exercising their right to free association. We all rely on those associations too: how many of us here own mutual funds? How many own stock directly?

The only method we have to counter this drive to seeking returns is regulation within the bounds of the US Constitution. But the size and efficacy of the regulatory regime is one that is inherently, political.

[eja]

NSC is up 296% in my holdings.  I'm quite happy with the current board.

[jagged ben]

It's getting increasingly difficult to talk about solutions to problems like this without getting political.

I know I keep saying it, but public corporations exist for one, value judgement free, reason: to increase the value of their owners investment in them.

...

We can value judge that reason all we want.  And we should.  This has never not been political.

[peteski]

Ed K-ski would make a great politician.

[eja]

Ed would make a great politician.

Which "Ed" ?

[peteski]

Which "Ed" ?

Well, the only one (so far) who posted a message in this thread. But I'll go and make my post less ambiguous. 

[Chris333]

The famous Mr. Ed.

[signalmaintainer]

The famous Mr. Ed.

Of course. ...

[peteski]

Of course. ...

                        ...of course.

[eja]

Well, the only one (so far) who posted a message in this thread. But I'll go and make my post less ambiguous. 

Respectfully, not quite true.      EJA = "Ed"ward James Anderson

[peteski]

Respectfully, not quite true.      EJA = "Ed"ward James Anderson

There are many users here who do not have a signature set up, and their user names do not give a hint as to their actual name. My apologies. I just don't realize that "eja" is "Edward".   When "Ed" is mentioned on TRW, to me that implies it is one from the pair of Eds with Polish surnames.