By Abhinav Parmar

(Reuters) -Activist investor Ancora Holdings, in a letter to CSX board disclosed on Monday, urged the railroad to pursue near-term merger options or replace CEO Joe Hinrichs.

The activist investor urged the railroad to evaluate potential tie-ups with Berkshire Hathaway-owned BNSF Railway and Canadian Pacific Kansas City in order to determine the best merger partner.

It warned that once Norfolk Southern and Union Pacific start operating as a unified transcontinental network, CSX stands to lose the most.

“If a deal cannot be struck, we assume it will not take us running a proxy contest to ensure a qualified operator replaces Mr. Hinrichs,” the activist investor said.

Ancora criticized CSX for failing to engage with Union Pacific earlier this year. It also argued that r

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