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.

An activist United States Steel Corp. shareholder looking to back out of Nippon Steel’s controversial acquisition wants to replace CEO David Burritt and nine members of the board in a proxy battle that opens another front in the battle for control.

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.

Pentwater Capital Management LP said it supports U.S. Steel’s current board and management, rejecting Ancora’s efforts to overhaul the steelmaker’s board and oust CEO David Burritt.

Ancora Holdings Group, with $10 billion in assets, reported acquiring a 0.18% stake in the Pittsburgh company. It said Monday that U.S. 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.

Cleveland-based activist investor Ancora is pushing for U.S. Steel to elect a new board of directors that would stop its merger with Nippon Steel.

If the Pennsylvania governor doesn’t finally start leading, an iconic Pittsburgh-based company may die, writes Nathan Benefield of the Commonwealth Foundation.

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An asset manager, Ancora, is challenging Nippon Steel's proposed takeover of U.S. Steel, calling for new leadership at the steelmaker after acquiring a small stake in the company. U.S. Steel is one of the major producers of steel in the U.S., employing more than 20,000 people in this a strategically important industry.

An investment firm from Cleveland is seeking to dismantle the current leadership of U.S. Steel in favor of nine new board members and a new chief executive.

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