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Longacre Square Partners represents Ancora Holdings Group as the investment advisory applauds CSX for dumping CEO Jim Hinrichs.
In August, Ancora sent a letter to CSX’s board outlining Hinrichs’ alleged “value-destructive tenure.”
It urged the board to replace him with someone willing to follow Union Pacific’s bid to create a transcontinental railroad via its $85B merger with Norfolk Southern.
CSX on Sept. 29 named board member Steve Angel, a noted dealmaker, its new CEO.
Ancora said Angel’s “M&A pedigree and value creation record indicate his appointment is an initial step in the right direction for CSX.”
The advisory will continue to buy CSX stock and “hopes to have a strengthened relationship with the company if leadership continues taking the right steps to maximize value.”
Longacre Square’s Amy Freedman and Ashley Areopagita represent Ancora.
Amsterdam’s CFF Communications handles Accell Group as Europe’s No 1 e-bike and No. 2 bicycle maker declares insolvency after failing to find a buyer.
Randy Sinclair, who rose to lead investor relations at Chevron during an 11-year run, will move to Northrop Grumman on Aug. 10 as VP-IR.
Trailrunner International is handling Axum Capital Partners’ move to acquire a controlling interest in BARCODE, a performance hydration brand, in partnership with NBA All-Star Victor Wembanyama.
Alpha IR and Alpha Advisory Group represent McKinley Acquisition Corp. as it plans to take hostile drone spotter and destroyer Space-Eyes public via a SPAC deal valued at $370M.
FGS Global keeps its position at the top of the heap in Mergermarket’s rankings of the top PR advisors in M&A deals for 1H26.
