President Joe Biden announced he was suspending the purchase of U.S. Steel by Japan’s Nippon Steel, citing the sale as a potential threat to national security. The a

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.

U.S. Steel and Nippon Steel filed a separate lawsuit in the U.S. Court of Appeals in Washington, D.C., against the Biden administration to overturn the order and force a new review that could potentially lead to the deal. The Pittsburgh suit against Cliffs and McCall doesn't have any bearing on that decision.

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.

The long United States Steel saga has suddenly become a matter of urgency. Boss David Burritt is fighting to salvage a $15 billion sale to Nippon Steel . Rival bidder Cleveland-Cliffs wants another shot at a takeover.

Activist investor Ancora has nominated nine candidates to U.S. Steel's board of directors, as it looks to oust company CEO David Burritt and push the American steelmaker to back out of a $14.9 billion merger deal with Japan's Nippon Steel.

Led by Jim Chadwick, Ancora has focused on campaigns at industrial and transportation companies. In recent years, it has secured board seats at Berry Global Group Inc. and Norfolk Southern Corp. In 2024, Ancora won three seats in its proxy battle at Norfolk Southern.

Kestenbaum, currently the CEO of private equity firm Bedrock Industries Group, is known as a turnaround artist. At one time known for an attempted bid for the National Football League’s Carolina Panthers, the Brooklyn-born native is highly regarded in the steel industry.

United States Steel Corp. on Monday rebuffed activist investor Ancora Holdings' proposal for a board shakeup aimed at thwarting

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.

An asset manager, Ancora, is challenging Nippon Steel's proposed takeover of U.S. Steel, calling for new leadership at the steelmaker after acquiring a small stake in the company. U.S. Steel is one of the major producers of steel in the U.S., employing more than 20,000 people in this a strategically important industry.

Ancora Holdings Group said the board of U.S. Steel and its CEO have prioritized the sale to Nippon because they stand to profit if it goes forward.