Activist Pressure on U.S. Steel Merger

Activist investor Ancora is advocating against the proposed merger between U.S. Steel and Nippon Steel, aiming to replace the current CEO, according to the Wall Street Journal.

Activist investor Ancora is pressuring U.S. Steel to abandon its planned merger with Nippon Steel, a move that suggests disapproval of the current leadership's strategic direction.

The Wall Street Journal reports that Ancora is also seeking the removal of U.S. Steel's CEO, indicating a significant push for change within the company's ranks.

This move reflects a broader trend of activist investors challenging corporate strategies in the steel industry.

(With inputs from agencies.)