U.S. Steel criticizes Ancora's strategic plan and defends Nippon Steel deal

From Nasdaq: 2025-04-08 22:33:00

United States Steel Corp. criticizes Ancora Catalyst Institutional’s proposed plan, calling it inconsistent and unrealistic. Ancora’s plan raises questions with a $55 per share cash deal with Nippon Steel while claiming to deliver $75+ per share. U.S. Steel highlights the benefits of its diversified business model, emphasizing its transformation into a modern steel producer. Ancora’s plan, including reversing mini mill investments, is described as outdated and risky. The Nippon Steel deal, supported by over 98% of shareholders, has faced opposition from Ancora in the past but is now backed by them. U.S. Steel questions the independence of Ancora’s nominees and defends its litigation strategy validated by CFIUS. The company urges stockholders to reject Ancora’s proxy contest.



Read more at Nasdaq: U.S. Steel Criticizes Ancora’s Strategic Plan And Defends Nippon Steel Deal