Major US Steel Investor Pentwater Opposes Ancora's Proxy Proposal
The third-largest investor in United States Steel Corp. said it opposes moves by activist investor Ancora Holdings Group to shake up the board of the iconic American steelmaker.
Pentwater Capital Management LP said it supports US Steel's current board and management, rejecting Ancora's efforts to overhaul the steelmaker's board and oust Chief Executive Officer David Burritt.
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