U.S. Steel reported fourth-quarter loss and revenue that matched Wall Street estimates on Thursday, dented by price declines and a bumpy demand environment. The industry has been struggling, as distributors have refrained from purchasing material in excess of their inventory amid a supply glut fueled by domestic production and imports.

The two steel makers are seeking to revive Nippon Steel’s $14 billion takeover of U.S. Steel after it was blocked by the Biden administration.

Activist investor Ancora called for a shakeup in U.S. Steel leadership on Monday and adding new members to the board of directors after the company's failed sale to Nippon Steel.

Activist investor Ancora has nominated nine candidates to U.S. Steel's board of directors, as it looks to oust company CEO David Burritt and push the American steelmaker to back out of a $14.9 billion merger deal with Japan's Nippon Steel.

Ohio-based Ancora Holdings Group is suggesting former Stelco Holdings Inc. CEO Alan Kestenbaum replace U.S. Steel’s CEO, David Burritt, along with a new board of directors.

The asset management firm Ancora is challenging Nippon Steel's proposed acquisition of US Steel following its purchase of a 0.18% stake in the American company. Ancora has accused the US Steel board and CEO David Burritt of pushing the $15 billion deal with Nippon Steel due to a potential $100 million windfall they'll receive if the deal closes.