An asset manager is trying to eliminate the US Steel Maker’s leadership after Nippon Steel’s US Steel occupation and taking a stake in the company.
Ankora reported to get 0.18 percent shares in the Pittsburg Company and said Monday that the board of US Steel and its CEO David Burt preferred to sell Napon because if it moves forward, Million 100 million Stand to receive more than.
Earlier this month Nippon steel And US Steel filed a federal case that challenged the Biden administration The decision to block Referring to national security, Nippon’s $ 15 billion was proposed.
Ankora is looking for an independent slate of directors in the US Steel and the new CEO who is determined to walk away from the Neptune Dell. In an open letter on Monday, the firm said it had nominated nine independent directors for elections this year at a meeting of US Steel shareholders. These directors have a plan, including the new US Steel CEO, former Steelco chairman and CEO Alan Caston Bam.
Ankora wants new members of the board to focus on US steel turn rounds, not seeking alternative bidders or selling to the company. It also wants to chase 565 million breakup fees.
Ankura wrote, “US Steel is now in a serious condition due to excessive capital, high debt, soft income and unstable emergency project.”
He said that with weak involvement in local communities, the consequences of being out of touch are the results. A miracle absent, Ankura, believes that the company’s leadership is required to reorganize enough and immediate reorganization.
US Steel, based in Pittsburg, said earlier on Monday that he was committed to a deal with Napoon, believed that it was the best deal for the US steel industry, supply chains and job markets.
He expressed concern over Ankora’s plans.
“Ankora’s interests are not associated with all US steel stock holders,” US Steel said. “Our stock holders will not be well presented to the company’s control by turning the company. We are also concerned about the motivations behind these nominations, in recent cases of Ankora and Alan Corton Bam. There are recent cases with Cleveland-Cliffs.
US Steel rejects rival American steel maker Cleveland Cliffs in favor of Nippon’s offer in 2023. Cleveland-Cliff’s CEO Lorenko Gonclav said this month that he wanted Make a new bid for US Steel.
Ankora is also based in Cleveland.
