The battle over American manufacturing icon U.S. Steel just got a little stranger than it already was. An activist investor is trying to scuttle a deal between U.S. Steel and Nippon Steel that was already on life support.

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.

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.

Pentwater, the third-largest investor in U.S. Steel, said it opposes moves by activist investor Ancora Holdings Group to shake up the board of the American steelmaker.

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.

Another Joe from Delaware—the one finishing up his final days in the White House—apparently sees himself in the same light, having stepped in to nix a $15 billion deal between U.S. Steel and Japan’s Nippon Steel.

United States Steel (X) issued the following statement in response to the submission by Ancora Catalyst Institutional, LP, who has a reported

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.

President Trump said in the "very near future" he will impose tariffs on steel, aluminum, copper, semiconductors, pharmaceuticals and other imports.

Activist investor Ancora Holdings is waging a proxy battle at U.S. Steel X-1.58%decrease; red down pointing triangle and wants the company to turn the page from its failed marriage with Nippon ...

United States Steel Corporation X is set to release fourth-quarter 2024 results after the closing bell on Jan. 30. See the Zacks Earnings Calendar to stay ahead of market-making news. U.S. Steel surpassed the Zacks Consensus Estimate in three of the trailing four quarters while missing once.