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.

An activist United States Steel Corp. shareholder looking to back out of Nippon Steel’s controversial acquisition wants to replace CEO David Burritt and nine members of the board in a proxy battle that opens another front in the battle for control.

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CLEVELAND — Ancora Holdings, a Mayfield Heights-based institutional asset management company and private wealth advisor, is calling on U.S. Steel to drop its merger agreement with Japanese-owned Nippon Steel, end its litigation against the federal government seeking to keep the deal alive and oust its Chief Executive.

An activist shareholder is planning a proxy battle at United States Steel Corp. to force the end of the controversial $14.9 billion acquisition by Nippon Steel, The Wall Street Journal reported late Sunday.

With the Nippon Steel purchase of U. S. Steel scuttled by presidential decree, might Cleveland-Cliffs join forces with Nucor to make an offer? Cleveland-Cliffs could target the integrated mills, and Nucor could take ownership of Big River Steel, an electric arc furnace in Arkansas .Nordroden/iStock/Getty Images Plus

Cleveland-based activist investor Ancora is pushing for U.S. Steel to elect a new board of directors that would stop its merger with Nippon Steel.

Ancora Holdings Group, with $10 billion in assets, reported acquiring a 0.18% stake in the Pittsburgh company. It said Monday that U.S. Steel CEO David Burritt and the company's board have prioritized a sale to Nippon because they stand to receive more than $100 million if it goes forward.

An investment firm from Cleveland is seeking to dismantle the current leadership of U.S. Steel in favor of nine new board members and a new chief executive.

The Republican-backed candidate in Wisconsin's pivotal state Supreme Court race said Monday that he didn't object to President Donald

If the Pennsylvania governor doesn’t finally start leading, an iconic Pittsburgh-based company may die, writes Nathan Benefield of the Commonwealth Foundation.