Ancora proposes strategy for U.S. Steel ahead of annual meeting

CLEVELAND - Ancora Holdings Group, LLC, a significant shareholder of United States Steel Corporation (NYSE: X), released a presentation today outlining its strategy for the steelmaker's future. The $10.1 billion market cap company, which has seen its stock surge 26.5% over the past six months, faces crucial decisions ahead. Ancora's plan includes advocating for its nominated board candidates, including CEO prospect Alan Kestenbaum, at U.S. Steel's upcoming Annual Meeting on May 6, 2025.According to InvestingPro analysis, U.S. Steel currently shows mixed financial signals, with strong price momentum but concerning cash burn rates. Subscribers can access 12 additional ProTips and a comprehensive Pro Research Report for deeper insights.

Ancora, which has a history of union labor support and investment management, emphasizes the potential benefits of its nominees for stockholders. The group asserts that its candidates are well-positioned to guide U.S. Steel towards a successful standalone future.

The investment firm also addressed the proposed merger between U.S. Steel and Nippon Steel Corporation, stating that it does not oppose the $55 per share transaction. With the stock currently trading at $44.50, near its 52-week high of $44.87, investors are closely monitoring the deal's progress. However, Ancora has requested a postponement of the Annual Meeting until after June 18, 2025. This delay would allow shareholders to consider the results of a 45-day review of the merger by the Committee on Foreign Investment in the United States before making decisions at the Annual Meeting.

Ancora has made available a GOLD universal proxy card for shareholders who wish to vote for its full slate of nominees. Further details can be found on the website www.MakeUSSteelGreatAgain.com.

The presentation is part of Ancora's ongoing efforts to influence the direction of U.S. Steel. Ancora Holdings, established in 2003, provides a range of financial services including investment advisory, wealth management, and retirement planning. The firm also operates Ancora Alternatives, an alternative asset management division with a focus on activism, multi-strategy, and commodities investments.

Shareholders and interested parties can access the presentation and learn more about Ancora's proposals on the aforementioned website. This news is based on a press release statement from Ancora Holdings Group, LLC.For investors seeking comprehensive analysis of U.S. Steel's financial health (rated "GOOD" by InvestingPro), including detailed metrics and expert insights, the platform offers extensive coverage of this and 1,400+ other US stocks through its Pro Research Reports.

In other recent news, United States Steel Corporation is under scrutiny as multiple developments unfold. Ancora Holdings Group, a significant shareholder, has called for a postponement of U.S. Steel's 2025 Annual Meeting due to a review by the Committee on Foreign Investment in the United States (CFIUS) regarding the company's proposed sale to Nippon Steel Corporation. This review was ordered by President Donald Trump and is expected to conclude within 45 days. Meanwhile, Nippon Steel has announced a delay in the closure of its proposed takeover of U.S. Steel, now expected to finalize in the second quarter of 2025. Despite the postponement, Nippon Steel claims there will be no impact on its earnings.

Additionally, BMO Capital Markets has downgraded U.S. Steel's stock rating from Outperform to Market Perform, citing ownership uncertainties and setting a price target of $45.00. This downgrade reflects BMO's view that the stock has reached its fair value amid ongoing discussions with Nippon Steel. U.S. Steel is also actively defending its board against a proxy contest by Ancora, urging shareholders to support its current directors. The company highlights its strategic transformation and a proposed transaction with Nippon Steel as key to its future success. These recent developments have added layers of complexity to U.S. Steel's strategic decisions and potential mergers.

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