Citi analyst Ariel Rosa believes Ancora’s letter to CSX‘s (CSX) board is “unnecessarily aggressive” and could hurt the company’s negotiating position by pushing it to be a forced seller. Citi calculates Ancora’s stake at less than 0.2% of CSX’s outstanding shares. The firm thinks CSX should take a patient approach regarding a potential takeover and keeps a Buy rating on the shares with a $40 price target
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