Investor seeks to quash US Steel-Nippon deal after taking stake in US steelmaker
Written by Black Hot Fire Network on January 27, 2025
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 reported acquiring a 0.18% stake in the Pittsburgh company and said Monday that the board of U.S. Steel and its CEO David Burritt have prioritized the sale to Nippon because they stand to receive more than $100 million if it goes forward.
