Ancora Withdraws Director Nominations For US Steel Over Momentum In Potential Sale To Nippon Steel

United States Steel

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(RTTNews) - Ancora Holdings Group, LLC, a stockholder of United States Steel Corp. (X), Wednesday announced the withdrawal of director nominations at the latter's 2025 Annual Meeting of Stockholders, due to momentum related to the $55 per share sale to Nippon Steel Corp. (NISTY.PK, NISTF.PK).

The move comes as US Steel and Nippon Steel might have succeeded in productive dialogue with the Trump Administration to address concerns and discuss significantly increased capital commitments.

Additionally, Ancora believes that the companies have taken steps to try to mitigate national security considerations.

These recent developments have led labor leaders, policy experts and stockholders to believe that the sale will be approved.

Ancora further stated that its decision to withdraw nominations also stems from disagreement with US Steel over the date of the meeting. Ancora had earlier requested US Steel to postpone the May 6 meeting as it comes just weeks before the new governmental review is expected to conclude.

However, US Steel disregarded Ancora's request and reiterated the May 6 date. Ancora predicts that this might indicate US Steel's potential confidence in the approval of the deal.

In the pre-market hours, US Steel's stock is trading at $44.50, up 0.93 percent on the New York Stock Exchange.