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.
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 David Burritt and push the American steelmaker to back out of a $14.9 billion merger deal with Japan's Nippon Steel.
The battle over American manufacturing icon U.S. Steel just got a little stranger than it already was. An activist investor ...
An asset manager is seeking to quash Nippon Steel's takeover of U.S. Steel and oust the leadership of the U.S. steelmaker ...
The exact size of Ancora's stake in U.S. Steel could not be determined. The activist investor also intends to rally ...
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