03:24 PM EST, 01/27/2025 (MT Newswires) -- United States Steel ( X ) has drawn interest from Alan Kestenbaum, the former chief executive of Canadian steel producer Stelco Holdings, Bloomberg reported Monday.

Kestenbaum in a Bloomberg interview expressed willingness to make a substantial personal investment in US Steel should it decide not to pursue a merger with Nippon Steel and if he is appointed as chief executive.

Kestenbaum's remarks to Bloomberg comes as US Steel issued a statement on Monday rejecting activist investor Ancora Catalyst Institutional's push for it to abandon merger plans with Nippon Steel. Kestenbaum is Ancora's pick as a replacement to current US Steel CEO David Burritt, according to the report.

US Steel and Nippon Steel did not immediately reply to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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