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.

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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.

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.

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.

Local steelworkers are holding out hope that the U.S. Steel sale with Nippon Steel goes through. This week Cleveland Cliffs CEO Lourence Goncalves offered to buy the Steel giant. The offer comes after President Joe Biden blocked a deal between U.S. Steel and Nippon Steel, a decision that’s since been challenged in a lawsuit.

Ancora Holdings, a Mayfield Heights-based institutional asset management company and private wealth advisor, is calling on U.S. Steel to drop its merger agreement with Japanese-owned Nippon Steel, end its litigation against the federal government seeking to keep the deal alive and oust its Chief Executive.

Their leading scorer sidelined by an ankle injury, their offense having gone cold, the Bruins pulled out a win over USC.

Ancora Holdings Group, with $10 billion in assets, reported acquiring a 0.18% stake in the Pittsburgh company. It said Monday that US Steel CEO David Burritt and the company’s board have prioritized a sale to Nippon because they stand to receive more than $100 million if it goes forward.

Ohio-based Ancora Holdings Group is suggesting former Stelco Holdings Inc. CEO Alan Kestenbaum replace U.S. Steel’s CEO, David Burritt, along with a new board of directors.

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.

WASHINGTON — Nippon Steel and U.S. Steel filed a federal lawsuit Monday challenging a Biden administration decision to block Nippon's proposed $15 billion acquisition of the Pittsburgh company ...