The Cleveland-based activist investor intends to push U.S. Steel to end litigation aimed at rescuing the Nippon Steel deal and instead collect a $565 million breakup fee.

On Sunday, the Wall Street Journal reported that Ancora intends to rally shareholders to oust U.S. Steel's CEO David Burritt. It also plans to pressure the company to drop its merger agreement with Japan's Nippon Steel .

Last week, Nippon Steel and U.S. Steel filed two lawsuits after U.S. President Joe Biden blocked a $14.9 billion buyout of the American steelmaker by the Japanese firm. President-elect Donald Trump takes office on Monday.

Activist investor Ancora has nominated nine candidates to U.S. Steel’s CADL-Q -2.41% board of directors after reporting a 0.18 per cent stake in the steel maker, the company said on Monday. On Sunday, the Wall Street Journal reported that Ancora intends to rally shareholders to oust U.S. Steel’s CEO David Burritt.

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

Activist investor Ancora has nominated nine candidates to U.S. Steel's board of directors, as it looks to oust company CEO David Burritt and push the American steelmaker to back out of a $14.9 billion merger deal with Japan's Nippon 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,

Activist investor Ancora Holdings is waging a proxy battle at U.S. Steel and wants the company to turn the page from its failed marriage with Nippon Steel. Ancora unveiled a plan that would rally shareholders around a plan to oust U.