As post-market numbers rolled in on Wednesday, Norfolk Southern (NYSE:NSC) had shareholders talking. The stock soared by 5.3%, following an assertive report from the venerable Wall Street Journal. The scoop? An investor group, led by Ancora Holdings, has plotted out a stunning takeover to the tune of approximately $1 billion, entailing a veritable slate of new directors. Their ultimatum: orchestrate a swift ousting of CEO Alan Shaw.

While Norfolk Southern (NSC) allegedly conferred with the Ancora crew within recent weeks, these board nominees have laser-focused on a clutch of concerns. Specifically, they’ve honed in on the company’s handling of a calamitous train derailment in Ohio last year. On top of that, they’ve seethed over what they consider Shaw’s lackluster performance in hitting operational goals.

But here’s the kicker: Ancora isn’t the sole entity making bold moves. Hedge funds Sachem Head Capital Management and D.E. Shaw have thrown their hats into the ring, steadily building their own stakes in Norfolk Southern (NSC), according to the report. The exact scale of their positions, however, remains a puzzling enigma.

The company’s fourth-quarter results, barging into the limelight just last week, illuminated a glaring 19% plunge in earnings and a 5% nosedive in revenues, as railroads grapple with dwindling demand from lumber and coal suppliers, among others.