A water tower at the U.S. Steel Corp. Edgar Thomson Works steel mill in Braddock, Pennsylvania, on Sept. 4, 2024.
Justin Merriman | Bloomberg | Getty Images
Activist investor Ancora has nominated nine candidates to U.S. Steel’s board of directors after reporting a 0.18% stake in the steelmaker, the company said on Monday.
On Sunday, the Wall Street Journal reported that Ancora intends to rally shareholders to oust U.S. Steel’s CEO David Burritt.
It also plans to pressure the company to drop its merger agreement with Japan’s Nippon Steel.
Ancora’s interests are not aligned with all U.S. Steel stockholders, the Pittsburgh-based company said in a statement.
