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US Steel Investor Ancora Reportedly Seeks End of Nippon Merger, CEO Replacement
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US Steel Investor Ancora Reportedly Seeks End of Nippon Merger, CEO Replacement
Jan 27, 2025 2:14 AM

04:59 AM EST, 01/27/2025 (MT Newswires) -- US Steel (X) investor Ancora Holdings is pushing the company to stop pursuing a merger with Nippon Steel and has also nominated nine directors to US Steel's board, multiple media outlets reported Sunday, citing sources familiar with the matter.

The activist investor is calling for the ouster of US Steel CEO David Burritt and seeking to replace him with former Stelco Holdings Chief Executive Alan Kestenbaum, Bloomberg reported.

Ancora does not support any potential sale of US Steel to another party after Former President Joe Biden blocked the proposed deal with Nippon Steel earlier this year, The Wall Street Journal reported.

US Steel, Nippon Steel and Ancora did not immediately respond to MT Newswires' request for comment.

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