Asset manager Ancora just bought a stake in U.S. Steel—and it wants to oust the company’s leadership and kill Nippon’s $15 billion takeover
U.S. Steel is now in a dire state due its excessive capital spending, high debt, soft earnings and nonexistent contingency plan,” Ancora wrote.
US Steel stakeholder seeks to stop Nippon deal, change leadership
Ohio-based Ancora Holdings Group is suggesting former Stelco Holdings Inc. CEO Alan Kestenbaum replace U.S. Steel’s CEO, David Burritt, along with a new board of directors.
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.
Investor seeks to quash U.S. Steel-Nippon deal after taking stake in Pittsburgh company
Ancora Holdings Group said the board of U.S. Steel and its CEO have prioritized the sale to Nippon because they stand to profit if it goes forward.
Activist Ancora to Push U.S. Steel to Drop Nippon Merger and Oust CEO, WSJ Reports
The exact size of Ancora's stake in U.S. Steel could not be determined. The activist investor also intends to rally shareholders around a plan to oust U.S. Steel's top boss David Burritt, the report said.
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.
Nucor may be interested in acquiring parts of U.S. Steel if Nippon Steel deal falls through
Nucor may be interested in acquiring parts of U.S. Steel if the $14.9 billion deal for Nippon Steel to purchase U.S. Steel falls through.
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,
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.
Activist Ancora Pushes U.S. Steel to Drop Merger With Nippon Steel, Oust CEO
Activist investor Ancora Holdings is waging a proxy battle at U.S. Steel and wants the company to turn the page from its ...
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 ...
Ancora nominates nine candidates to U.S. Steel board, pushes to end Nippon deal
Activist investor Ancora has nominated nine candidates to U.S. Steel's board of directors, as it looks to oust company CEO ...
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 ...
WTAE-TV3d
New player arrives in US Steel-Nippon takeover saga with the goal of quashing it
REPO 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 ...
U.S. Steel posts muted quarterly results amid Nippon deal snag
U.S. Steel reported fourth-quarter loss and revenue that matched Wall Street estimates on Thursday, dented by price declines ...