09:09 AM EDT, 04/07/2025 (MT Newswires) -- United States Steel ( X ) investor Ancora said Monday that it filed a proxy statement to nominate nine directors to US Steel's board and proposed a plan to support shareholder value ahead of the company's annual meeting on May 6.

The investment management firm said its nominees would support the proposed $55-per-share sale to Nippon Steel, and stop related lawsuits.

If the deal falls through, Ancora's plan includes selling the Big River Steel unit for about $8 billion, returning $5 billion to shareholders through a special dividend, and investing the rest of the proceeds into US Steel's flat-rolled segment, Ancora said.

The proposal also includes improving union relations, reducing debt, and initiating regular dividends and share repurchases, the investor added.

United States Steel ( X ) did not immediately respond to MT Newswires' request for comment.

Shares of the company were down 1% in recent Monday premarket activity.