(Reuters) – Activist investor Ancora Holdings on Monday called on U.S. Steel’s board to delay its annual stockholders meeting until a Committee on Foreign Investment (CFIUS) review is complete.
The move comes after U.S. President Donald Trump directed the CFIUS to conduct and finalize a new review of the transaction within 45 days.
“To reiterate, Ancora and our director candidates have no intention of standing in the way of the $55 per share Nippon deal,” the activist investor said.
Ancora launched a boardroom challenge at U.S. Steel early this year, as the iconic American company attempts to salvage a planned merger with Japan’s Nippon Steel.
(Reporting by Nathan Gomes and Anshuman Tripathy in Bengaluru; Editing by Alan Barona)
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