(Reuters) – Activist investor Ancora has nominated nine candidates to U.S. Steel’s board of directors after reporting a 0.18% stake in the steelmaker, 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.
It also plans to pressure the company to drop its merger agreement with Japan’s Nippon Steel .
Ancora’s interests are not aligned with all U.S. Steel stockholders, the Pittsburgh-based company said in a statement.
(Reporting by Aishwarya Jain in Bengaluru; Editing by Mrigank Dhaniwala and Varun H K)
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