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 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.

U.S. Steel yesterday disavowed a push from activist investor Ancora Holdings to drop its proposed sale to Japan's Nippon Steel Co. Why it matters: The future of the Pittsburgh icon is in limbo after a proposal to sell the company to Nippon was blocked by then-President Biden four weeks ago,

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.

Ancora Holdings Group said the board of U.S. Steel and its CEO have prioritized the sale to Nippon because they stand to profit if it goes forward.

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.