Reported 2 days ago
Activist investor Ancora has nominated nine candidates for U.S. Steel's board, seeking to replace CEO David Burritt and terminate a $14.9 billion merger with Japan's Nippon Steel. Ancora, which holds a 0.18% stake in the company, intends to pursue a $565 million breakup fee from Nippon rather than selling U.S. Steel to other bidders, despite concerns raised by U.S. Steel regarding Ancora's motivations.
Source: YAHOO