Activist Investor Targets US Steel

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US Steel CEO David Burrett

CNBC

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US Politics

Activist Ancora pushes for new leadership at U.S. Steel, plans to scrap Nippon deal

Summary

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53% Informative

Activist investor and activist investor is now going after US Steel demanding some very, very good changes.

Cora releasing A12 page letter to the board announcing it has nominated a majority slate of nine candidates and is calling for the ouster of US Steel CEO David Burrett now.

US Steel already out with a response among other things that quote, we remain confident that our partnership with Nippon Steel is the best deal for American Steel , American jobs, American communities and American supply chains.

The deal was blocked by the former president on national security grounds.

US Steel bottom line is in need of an injection of cash to update its processes for making steel.

But this is all going to play out here overcoming weeks and coming months .

We may not be near the end of this until summertime.

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informal

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English

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