Investment firm seeks to oust U.S. Steel leadership

Activist investment firm Ancora Holdings Group wants to replace leadership at U.S. Steel and halt the Pittsburgh steelmaker’s $15-billion sale to Japan’s Nippon Steel.

Ancora Holdings submitted an open letter to U.S. Steel Monday morning in which the Cleveland-based investment firm criticized the company for its “choice to double down on its extremely poor decision to pursue a sale to Nippon.”

Nippon Steel
Stelco
U.S. Steel

Stephanie Ritenbaugh

Stephanie Ritenbaugh is a reporter for Steel Market Update. She is an experienced business journalist, holding a variety of positions for trade publications and newspapers, including covering shale development for Gas Business Briefing/Platts and for the Pittsburgh Post-Gazette. She can be reached at stephanie.ritenbaugh@crugroup.com or +1 724-759-7868

Stephanie Ritenbaugh

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