Ancora Holdings, a productive activist of Transports, has once again set his gaze on the inferior I Class Railway and its CEO. After moving that it reflected a successful intervention with Norfolk Southern, ancora wrote a pointed letter to the Board of CSX Corporation, urging me to explore the merger options immediately.
If the Surface Transport Board allows Union Pacific Norfolk Southern, then the main CSX competitor will be able to offer smooth services from the shore to the shore while CSX-Ne. If CSX thinks that the merger with the BNSF will come and it does not actively seek other options (eg.
“BNSF is a cash buyer who would give a very disciplined approach to any negotiation, which makes CSX a vulnerable position if they have no alternative countries to talk to,” the ancora wrote.
August 6 The letter is intended for CSX independent members of the Board, emphasizes Ancora’s dissatisfaction with the current trajectory of the company, led by CEO Joe Hinrichs. Ancora emphasizes that CSX tastes, especially in the light of the recent “Union Pacific” and “Norfolk Southern Mercery”, repeatedly re -re -re -re -re -calibrated the strategy. The letter emphasizes the active need for CSX to be actively involved in the merger discussions to avoid the rapidly developing railway sector.
CSX has fought in recent years, especially in comparison with their peers in Class I railway sector. The ancora emphasizes that since 2022 Hinrichs took the steering wheel, the company’s activity ratio – a critical measure of efficiency and profitability – deteriorated significantly. From a relatively healthy 58% of their term, the ratio increased to about 67% at the beginning of its term, as normal operating costs consumed the increasing CSX revenue. This backpack has increased investors’ concerns about the company’s directions, as well as its ability to effectively compete in the market, defined in large consolidation and competition.
Ancora Letter CSXDOWNLOAD
In his correspondence, Ancora states that Hinrichs deficiency of fundamental achievements and his inability to use the main options of merger made the CSX unfavorable competitive position. The letter states that although the headlines of Union Pacific and Norfolk Southern have formed their own transcontinental merger, the CSX management has reported that less influenced initiatives such as the management of its social media.