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.
Weaker selling prices across all of its operating segments resulted in a fourth quarter net loss of $89 million, United States Steel Corp. reported Jan. 30.
Pentwater Capital Management LP said it supports U.S. Steel’s current board and management, rejecting Ancora’s efforts to overhaul the steelmaker’s board and oust CEO David Burritt.