Ancora Urges CSX to Seek a Merger ‘Sooner Rather Than Later’

Ancora Holdings Group will push CSX Corp. to pursue a merger if the railroad operator doesn’t take its own steps toward a deal soon, with the activist saying first-mover advantage is key to consolidation in the US railroad industry.

The investor revealed this week that it has a “growing investment” in Jacksonville, Florida-based CSX. While Ancora is yet to launch a public campaign, it’s continuing to build its position and could also push for changes at the top of the freight operator.

Jim Chadwick, president of alternatives at Ancora, wants CSX to start exploring a potential merger ...