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Neuberger Berman Backs Ancora in Proxy Fight

Neuberger Berman Asset Management, has lent its support to Ancora Holdings in the ongoing proxy fight for control of the Norfolk Southern Corporation. Neuberger Berman boasts Assets Under Management (AUM) of $460 billion, giving it a prominent place in the broader asset manager community. At this point, it is unknown how much weight Neuberger will carry in this contest, though winning a prominent name to their side gives lesser-known Ancora a substantial boost. Watch to see if other managers, such as BlackRock and J.P. Morgan Chase elect to weigh in, together with advisory firms like Institutional Shareholder Services (ISS) and Glass Lewis. Stay tuned here at All Things Trains for the latest Norfolk Southern news. From Trains Magazine: Ancora’s activist campaign gains support of Norfolk Southern investor (updated) Photo Credit: David Lassen via Trains Magazine

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