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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.
Publicis Groupe reported 4.5 percent Q1 organic growth in net revenues to $4.1B despite the volatile macro environment.
PondelWilkinson, the Los Angeles-based IR and strategic communications shop, has expanded to the East Coast by adding Anreder & Company veterans following the retirement of principal Steven Anreder.
Teneo represents American Ocean Minerals Corp as its merges with NASDAQ-listed Odyssey Marine Exploration to create a $1B deep-sea critical minerals research and mining platform that is under US-control.
Kekst CNC represents Cleveland-based Everstream as the business-only fiber network receives bankruptcy court approval for the sale of almost all of its operations to Bluebird Fiber for $385M.
FTI Consulting handles media for McCormick as the 137-year-old flavors company combines with Unilever Foods in a deal valued at $45B.
