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.

Activist investor Ancora Holdings is preparing to wage a proxy battle at U.S. Steel and wants the company to turn the page from its failed marriage with Nippon Steel, according to people familiar with the matter.

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.

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.

Ancora Holdings, a Mayfield Heights-based institutional asset management company and private wealth advisor, is calling on U.S. Steel to drop its merger agreement with Japanese-owned Nippon Steel, end its litigation against the federal government seeking to keep the deal alive and oust its Chief Executive.

Consent of the governed is one of the founding principles of our country. Embedded in the Declaration of Independence, it harks to the frustrations of American colonists over unjust laws

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.

Ancora Holdings issued the below open letter to the board of directors of United States Steel (X) regarding a variety of issues, including the

but the deal faced opposition from the powerful United Steelworkers union (USW), as well as politicians. Biden has said he wants U.S. Steel to be domestically owned and operated, while President ...

Steel have engaged in good faith with all parties to underscore how the Transaction will enhance, not threaten, United States ... the head of the U.S. Steelworkers union, of "engaging in a ...

U.S. Steel said it remains committed to pursuing a deal with Nippon, believing it is best for the U.S. steel industry, supply chains and for steel workers.