Ancora's Call to Action

Ancora Holdings Group has publicly urged US Steel's board to cease attempts to revive a previously failed acquisition deal with Japan's Nippon Steel. Instead, Ancora suggests that US Steel should accept a $565 million termination fee, a move that aligns with President Trump's recent remarks indicating the deal's improbability.

Trump's Stance on the Deal

In a letter addressed to US Steel's board of directors, Ancora highlighted President Trump's comments as a definitive sign that the acquisition by Nippon Steel stands no chance of revival. Ancora praised Trump's dedication to safeguarding US Steel and revitalizing the nation's industrial and manufacturing sectors.

Criticism of US Steel's Leadership

Furthermore, Ancora did not hold back in its criticism of US Steel CEO David Burritt, accusing him of squandering valuable time and resources on pursuing the deal despite clear opposition from the President.