03:33 PM EDT, 08/19/2025 (MT Newswires) -- CSX (CSX) was urged by Ancora to explore a potential merger with Berkshire Hathaway ( BRK/A )-owned (BRK.A/BRK.B) BNSF Railway or Canadian Pacific Kansas City ( CP ) , or replace CEO Joe Hinrichs to avoid shareholder value destruction, the hedge fund said in a Tuesday letter.

Ancora sought the formal retention of an investment bank to explore transaction opportunities as well as for CSX to pursue a merger like the one entered into by rivals Union Pacific ( UNP ) and Norfolk Southern ( NSC ) to catch up with the rail consolidation race, according to the letter.

The activist investor urged the board to terminate the CEO, citing poor shareholder returns, operational performance, personnel selection, and missed opportunities under his watch, according to the report.

Ancora noted it is ready to launch a proxy fight to ensure a "qualified operator" replaces Hinrichs if a deal is not made.

CSX did not immediately respond to a request for comment from MT Newswires.

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