Activist investment fund Ancora is seeking to stop Nippon Steel from acquiring U.S. Steel.
Activist investor Ancora Holdings has acquired a stake in US Steel and is urging the steelmaker to abandon its merger agreement with Japan's Nippon Steel, according to a Wall Street Journal report. Ancora intends to encourage shareholders to remove US Steel's CEO David Burritt, according to the report.
U.S. Steel (X) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
In this podcast, Motley Fool analyst Jason Moser and host Mary Long discuss:
U.S. Steel (X) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
There is a lot of uncertainty around this year's potential new tariffs in the basic materials sector, particularly in the steel industry. With uncertainty comes a lot of shaky price action, better known as volatility, and many investors might feel confused as to what could happen next or what stock they could even look into in the next couple of months.
U.S. Steel (X 6.48%) has been in the news for months since Japan's Nippon Steel made a generous offer for the iconic American steelmaker. Nippon's $14.9 billion bid in late 2023 represented a nearly 40% premium to U.S. Steel's share price at the time.
A report says Nucor and Cleveland-Cliffs are considering a joint bid for U.S. Steel.
American investment could become less welcome, undermining Japan's progress on corporate reforms.
U.S. Steel CEO David Burritt on Tuesday appealed to President-elect Donald Trump to reverse President Joe Biden's decision to block the company's sale to Japan's Nippon Steel. "The president can step in now and undo the wrongful, shameful, corrupt actions of Biden," Burritt said Tuesday on CNBC.
Breitbart economics and finance editor John Carney breaks down the business controversy on 'The Bottom Line.'