JOURNAL ARTICLE

USW Says Ancora Aims to Sell Mills to Fund US Steel Revival.

  • Published In: Bloomberg.com, 2025. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Deaux, Joe 3 of 3

Abstract

The United Steelworkers have raised concerns about activist investor Ancora Holdings Group's plans to sell United States Steel Corp.'s modern mills to fund upgrades of older union-run facilities. Ancora, holding just 1% of US Steel's shares, aims to replace the company's board and CEO to revitalize the steel industry. The union is wary of Ancora's proposal to sell the Big River assets in Arkansas and invest in blast furnaces in Pennsylvania, Indiana, and Illinois, highlighting potential threats to their facilities and national security. US Steel and Nippon Steel are in the midst of a $14.1 billion deal, with conflicting views on Ancora's involvement and the future of the industry. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2025/03, pN.PAG
  • Document Type:Article
  • Subject Area:Social Sciences and Humanities
  • Publication Date:2025
  • Accession Number:184085398
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