Reported about 14 hours ago
Activist investor Ancora Holdings is pushing U.S. Steel to abandon its merger with Japan's Nippon Steel and is calling for the ouster of CEO David Burritt. Ancora, which has acquired a stake in U.S. Steel, has nominated nine candidates for the company's board, intending to replace Burritt with former Stelco chief Alan Kestenbaum. This move follows U.S. President Joe Biden's intervention to block Nippon's $14.9 billion acquisition of U.S. Steel on national security grounds, prompting legal action from the companies involved.
Source: YAHOO