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 Challenges Nippon Steel's US Steel Takeover
The asset management firm Ancora is challenging Nippon Steel's proposed acquisition of US Steel following its purchase of a 0.18% stake in the American company. Ancora has accused the US Steel board and CEO David Burritt of pushing the $15 billion deal with Nippon Steel due to a potential $100 million windfall they'll receive if the deal closes.
US Steel's merger with Nippon Steel challenged by activist investor
Activist investor Ancora Holdings Group has launched a proxy battle against US Steel. The firm has nominated nine candidates for US Steel's board, including Alan Kestenbaum, former CEO of Stelco Holdings Inc. Ancora is also pushing for Kestenbaum to replace US Steel's current CEO David Burritt.
Activist Ancora to push US Steel to drop Nippon merger and oust CEO
Activist investor Ancora Holdings has built a stake in US Steel and wants the steelmaker to drop its merger agreement.
Activist Investor Seeks to Oust U.S. Steel Chief Over Nippon Deal
The two steel makers are seeking to revive Nippon Steel’s $14 billion takeover of U.S. Steel after it was blocked by the Biden administration.
Asset Manager Challenges Nippon Steel's Takeover of US Steel
An asset manager, Ancora, is challenging Nippon Steel's proposed takeover of U.S. Steel, calling for new leadership at the steelmaker after acquiring a small stake in the company. U.S. Steel is one of the major producers of steel in the U.
Activist investor Ancora calls for new leadership at U.S. Steel
Activist investor Ancora called for a shakeup in U.S. Steel leadership on Monday and adding new members to the board of directors after the company's failed sale to Nippon Steel.
Shareholder to push U.S. Steel to drop merger with Nippon Steel, oust CEO
Activist U.S. Steel investor Ancora Holdings is pushing U.S. Steel to drop its merger agreement with Nippon Steel.
U.S. Steel rebuffs activist fund's bid to hamper Nippon Steel deal
United States Steel Corp. on Monday rebuffed activist investor Ancora Holdings' proposal for a board shakeup aimed at thwarting Nippon Steel Corp.'s plan to buy out the U.S. steelmaker. The announcement came after The Wall Street Journal reported that Ancora,
US Steel now all about striking while iron is hot
The long United States Steel saga has suddenly become a matter of urgency. Boss David Burritt is fighting to salvage a $15 ...
Ancora moves to block U.S. Steel sale to Nippon, oust CEO
Ancora Holdings Group, with $10 billion in assets, reported acquiring a 0.18% stake in the Pittsburgh company. It said Monday ...
RealClearMarkets14h
A Case For and Against Nippon's U.S. Steel Acquisition
President Joe Biden announced he was suspending the purchase of U.S. Steel by Japan’s Nippon Steel, citing the sale as a ...
US Steel says committed to Nippon Steel, Ancora's interests not aligned with shareholders
US Steel (NYSE:X) said Monday it is still committed to pursuing a sale to Nippon Steel (OTCPK:NPSCY) (OTCPK:NISTF), saying ...
Transport Topics1d
US Steel Investor Pentwater Opposes Ancora’s Proxy Proposal
Pentwater, the third-largest investor in U.S. Steel, said it opposes moves by activist investor Ancora Holdings Group to ...
Crain's Cleveland Business2d
Activist Ancora's pick for U.S. Steel CEO eyes major stake if given job
Kestenbaum, currently the CEO of private equity firm Bedrock Industries Group, is known as a turnaround artist. At one time ...
Nucor might pursue parts of US Steel if merger deal collapses, CEO Topalian says
Nucor shares rise after beating Q4 earnings expectations. The company might pursue parts of US Steel if merger deal collapses ...
Pence Says Trump Should Uphold TikTok Ban, Allow US Steel Deal
Former Vice President Mike Pence called on his former boss to uphold a law banning TikTok for national security reasons and ...