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Activist Investor Ancora Challenges US Steel Leadership and Merger Deal

Activist investor Ancora has nominated nine candidates to U.S. Steel's board to oust CEO David Burritt and oppose a $14.9 billion merger with Nippon Steel.
Ancora seeks $565 million in breakup fees from Nippon Steel and is not interested in selling U.S. Steel to Cleveland-Cliffs.
President Joe Biden blocked the sale of U.S. Steel to Nippon Steel due to national security concerns, citing the need for domestic ownership.
U.S. Steel and Nippon filed lawsuits against Biden, claiming conspiracy to block the merger, while stakeholders express mixed concerns about job security and market share.

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Real Clear Politics

Ancora Wants To Make U.S. Steel Great Again

Cleveland-based activist investor Ancora is pushing for U.S. Steel to elect a new board of directors that would stop its merger with Nippon Steel.

26 days ago·Chicago, United States

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Japan Today

New player arrives in U.S. Steel-Nippon Steel takeover saga with goal of quashing it

An asset manager is seeking to quash Nippon Steel's takeover of U.S. Steel and oust the leadership of the U.S. steelmaker after taking a stake in the company. Ancora Holdings Group, with $10 billion in assets, reported acquiring a 0.18% stake in the Pittsburgh company. It said Monday that U.S.…

27 days ago·Sakado, Japan

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The Times of Northwest Indiana

Activist investor seeks to buy U.S. Steel, oust CEO and kill Nippon Steel deal

An activist investor has bought a significant stake in U.S. Steel and is now looking to oust CEO David Burritt, install new leadership and kill the Nippon Steel deal.

27 days ago·Cherokee County, United States

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The Star Kuala Lumpur

Ancora arrives in U.S. Steel-Nippon takeover with goal of quashing

NEW YORK, Jan. 27 (Xinhua) -- An asset manager is seeking to quash Nippon Steel's takeover of U.S. Steel and oust the leadership of the U.S. steelmaker after taking a stake in the company. Read full story

27 days ago·Malaysia

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Washington Examiner

Ancora wants to make US Steel great again - Washington Examiner

PITTSBURGH — The investment firm Ancora is pushing U.S. Steel shareholders to drop the Nippon Steel merger and oust CEO David Burritt, a move that would align with President Donald Trump’s insistence that U.S. Steel ownership stay in American hands. It is unclear from their statement how big a stake in U.S. Steel the Cleveland-based finance company currently has. In September, Trump said despite all of Nippon’s broad promises, he is still set on…

27 days ago·Washington, United States

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Arkansas Business

New Player Arrives In US Steel-Nippon Takeover Saga With the Goal of Quashing It

An asset manager is seeking to quash Nippon Steel’s takeover of U.S. Steel and oust the leadership of the U.S. steelmaker after taking a stake in the company. Ancora Holdings Group, with $10 billion in assets, reported acquiring a 0.18% stake in the Pittsburgh company. It said Monday that U.S. Steel CEO David Burritt and the company’s board have prioritized a sale to Nippon because they stand to receive more than $100 million if it goes forward.…

27 days ago

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