{"id":834372,"date":"2025-04-07T08:04:07","date_gmt":"2025-04-07T12:04:07","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/ancora-sends-letter-to-u-s-steel-stockholders-regarding-its-slates-win-win-solution-to-maximize-value\/"},"modified":"2025-04-07T08:04:07","modified_gmt":"2025-04-07T12:04:07","slug":"ancora-sends-letter-to-u-s-steel-stockholders-regarding-its-slates-win-win-solution-to-maximize-value","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/ancora-sends-letter-to-u-s-steel-stockholders-regarding-its-slates-win-win-solution-to-maximize-value\/","title":{"rendered":"Ancora Sends Letter to U.S. Steel Stockholders Regarding its Slate\u2019s Win-Win Solution to Maximize Value"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwlistdecimal { list-style-type: decimal }\n.bwlistdisc { list-style-type: disc }\n.bwuline { text-decoration: underline }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\">\nAncora Sends Letter to U.S. Steel Stockholders Regarding its Slate\u2019s Win-Win Solution to Maximize Value\n<\/p>\n<p class=\"bwalignc\"><b><i>Affirms Slate\u2019s Commitment to Pursuing the $55 per Share Sale to Nippon While Simultaneously Positioning U.S. Steel to Thrive Under an Alternative Standalone Scenario<\/i><\/b><\/p>\n<p class=\"bwalignc\"><b><i>Details Proposed CEO Alan Kestenbaum\u2019s Five-Point Plan to Reverse the Burritt-Dominated Board\u2019s Mistakes and Revitalize U.S. Steel\u2019s Structurally Advantaged Union Plants Across the Rust Belt<\/i><\/b><\/p>\n<p class=\"bwalignc\"><b><i>Highlights How Five-Point Plan Will Enable U.S. Steel to Deliver a $19.25 per Share Special Dividend and Target a Pro Forma Total Stockholder Return of $75+<\/i><\/b><\/p>\n<p class=\"bwalignc\"><b><i>Underscores View That Stockholders Will Face Irreversible Value Destruction Under the Burritt-Dominated Board if the Sale to Nippon Remains Blocked<\/i><\/b><\/p>\n<p class=\"bwalignc\"><b><i>Vote on the <span class=\"bwuline\">GOLD<\/span> Universal Proxy Card to Elect the Entire Ancora Slate and Make U.S. Steel Great Again<\/i><\/b><\/p>\n<p>CLEVELAND&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nAncora Holdings Group, LLC (collectively with its affiliates, \u201cAncora\u201d or \u201cwe\u201d), a stockholder of United States Steel Corporation (NYSE: X) (\u201cU.S. Steel\u201d or the \u201cCompany\u201d), today announced that it is filing a definitive proxy statement with the U.S. Securities and Exchange Commission in connection with its nomination of nine highly qualified director candidates for election to the Company\u2019s Board of Directors at the 2025 Annual Meeting of Stockholders scheduled for May 6, 2025. Additionally, Ancora sent <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fancora.s3.us-west-1.amazonaws.com%2FAncora%2BLetter%2Bto%2BU.S.%2BSteel%2BStockholders%2B%25284.7.25%2529.pdf&amp;esheet=54234397&amp;newsitemid=20250407793732&amp;lan=en-US&amp;anchor=a+letter&amp;index=1&amp;md5=a99975a516dd2a8779cdc602645c5b25\">a letter<\/a> to stockholders regarding its slate\u2019s five-point plan to turn around U.S. Steel:\n<\/p>\n<ol class=\"bwlistdecimal\">\n<li><b>Continue to pursue the $55 per share sale to Nippon Steel Corporation.<\/b> However, our nominees commit to ceasing all vengeful and frivolous litigation, such as the action against United Steelworkers President David McCall, that undermines the Company\u2019s relationships with key stakeholders.\n<\/li>\n<li><b>If the transaction remains blocked and is then formally terminated, execute a viable strategy to achieve a target pro forma total return of $75.67 to stockholders that includes:\n<p><\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nSelling the Big River Steel operation for estimated proceeds of $8 billion, netting $7.6 billion after taxes.\n<\/li>\n<li>\nReturning $5 billion ($19.25 per share) to stockholders via a one-time special dividend.\n<\/li>\n<li>\nUsing the remaining Big River sale proceeds to invest in the Company\u2019s high-potential North American Flat-Rolled assets, resulting in an estimated 120% increase in EBITDA by the end of 2027.<\/p>\n<\/li>\n<\/ul>\n<\/li>\n<li><b>Improve the Company\u2019s union relations in the pursuit of a new labor agreement ahead of the current deal\u2019s expiration in 2026.\n<p><\/b><\/li>\n<li><b>Strengthen U.S. Steel\u2019s balance sheet to ensure the Company has the capital flexibility to pursue opportunities as they arise.\n<p><\/b><\/li>\n<li><b>With a delevered balance sheet, initiate a capital allocation plan that includes regular meaningful dividend payments and share buybacks.<\/b><\/li>\n<\/ol>\n<p>\nA copy of the letter sent to stockholders is available to download <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fancora.s3.us-west-1.amazonaws.com%2FAncora%2BLetter%2Bto%2BU.S.%2BSteel%2BStockholders%2B%25284.7.25%2529.pdf&amp;esheet=54234397&amp;newsitemid=20250407793732&amp;lan=en-US&amp;anchor=here&amp;index=2&amp;md5=03bcfbbb09f845182e4bf9d957c0c1f9\"><b>here<\/b><\/a>. For more information on how to vote for Ancora\u2019s full slate on the <b>GOLD<\/b> universal proxy card, visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.MakeUSSteelGreatAgain.com&amp;esheet=54234397&amp;newsitemid=20250407793732&amp;lan=en-US&amp;anchor=www.MakeUSSteelGreatAgain.com&amp;index=3&amp;md5=e7989fc64cb0c57a75d0a7b3570a987e\">www.MakeUSSteelGreatAgain.com<\/a>.\n<\/p>\n<p><b><span class=\"bwuline\">About Ancora<\/span><\/b><\/p>\n<p>\nFounded in 2003, Ancora Holdings Group, LLC offers integrated investment advisory, wealth management, retirement plan services and insurance solutions to individuals and institutions across the United States. The firm is a long-term supporter of union labor and has a history of working with union groups and public pension plans to deliver long-term value. Ancora\u2019s comprehensive service offering is complemented by a dedicated team that has the breadth of expertise and operational structure of a global institution, with the responsiveness and flexibility of a boutique firm. Ancora Alternatives is the alternative asset management division of Ancora Holdings Group, investing across three primary strategies: activism, multi-strategy and commodities. For more information about Ancora Alternatives, please visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.ancoraalts.com%2F&amp;esheet=54234397&amp;newsitemid=20250407793732&amp;lan=en-US&amp;anchor=www.ancoraalts.com&amp;index=4&amp;md5=0a34e038ac2ea50b05f03b8965016d13\">www.ancoraalts.com<\/a>.\n<\/p>\n<p><b><span class=\"bwuline\">CERTAIN INFORMATION CONCERNING THE PARTICIPANTS<\/span><\/b><\/p>\n<p>\nAncora Catalyst Institutional, LP (\u201cAncora Catalyst Institutional\u201d), together with the other participants named herein, has filed a preliminary proxy statement and accompanying GOLD universal proxy card with the Securities and Exchange Commission (\u201cSEC\u201d) to be used to solicit votes for the election of Ancora Catalyst Institutional\u2019s slate of highly-qualified director nominees at the 2025 annual meeting of stockholders of United States Steel Corporation, a Delaware corporation (the \u201cCompany\u201d).\n<\/p>\n<p>\nANCORA CATALYST INSTITUTIONAL STRONGLY ADVISES ALL STOCKHOLDERS OF THE COMPANY TO READ THE PROXY STATEMENT AND OTHER PROXY MATERIALS, INCLUDING A PROXY CARD, AS THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. SUCH PROXY MATERIALS WILL BE AVAILABLE AT NO CHARGE ON THE SEC&#8217;S WEB SITE AT <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.sec.gov%2F&amp;esheet=54234397&amp;newsitemid=20250407793732&amp;lan=en-US&amp;anchor=HTTP%3A%2F%2FWWW.SEC.GOV&amp;index=5&amp;md5=aacc48b6d36d5a250a47f8cea438b323\">HTTP:\/\/WWW.SEC.GOV<\/a>. IN ADDITION, THE PARTICIPANTS IN THIS PROXY SOLICITATION WILL PROVIDE COPIES OF THE PROXY STATEMENT WITHOUT CHARGE, WHEN AVAILABLE, UPON REQUEST. REQUESTS FOR COPIES SHOULD BE DIRECTED TO THE PARTICIPANTS&#8217; PROXY SOLICITOR.\n<\/p>\n<p>\nThe participants in the anticipated proxy solicitation are expected to be Ancora Catalyst Institutional, Ancora Bellator Fund, LP (\u201cAncora Bellator\u201d), Ancora Catalyst, LP (\u201cAncora Catalyst\u201d), Ancora Merlin Institutional, LP (\u201cAncora Merlin Institutional\u201d), Ancora Merlin, LP (\u201cAncora Merlin\u201d), Ancora Impact Fund LP Series CC (\u201cAncora Impact CC\u201d), Ancora Impact Fund LP Series DD (\u201cAncora Impact DD\u201d), Ancora Alternatives LLC, (\u201cAncora Alternatives\u201d), Ancora Holdings Group, LLC (\u201cAncora Holdings\u201d), Fredrick D. DiSanto, Jamie Boychuk, Robert P. Fisher, Jr., Dr. James K. Hayes, Alan Kestenbaum, Roger K. Newport, Shelley Y. Simms, Peter T. Thomas, and David J. Urban.\n<\/p>\n<p>\nAs of the date hereof, Ancora Catalyst Institutional directly beneficially owns 467,582 shares of common stock, par value $1.00 per share (the \u201cCommon Stock\u201d), of the Company, 100 shares of which are held in record name. As of the date hereof, Ancora Bellator directly beneficially owns 254,388 shares of Common Stock. As of the date hereof, Ancora Catalyst directly beneficially owns 50,847 shares of Common Stock. As of the date hereof, Ancora Merlin Institutional directly beneficially owns 471,755 shares of Common Stock. As of the date hereof, Ancora Merlin directly beneficially owns 48,136 shares of Common Stock. As of the date hereof, Ancora Impact CC directly beneficially owns 518,909 shares of Common Stock. As of the date hereof, Ancora Impact DD directly beneficially owns 286,169 shares of Common Stock. As of the date hereof, Mr. DiSanto directly beneficially owns 10,000 shares of Common Stock. As of the date hereof, Mr. Kestenbaum directly beneficially owns 500,000 shares of Common Stock. As the investment advisor and general partner to each of Ancora Catalyst Institutional, Ancora Bellator, Ancora Catalyst, Ancora Merlin Institutional, Ancora Merlin, Ancora Impact CC, Ancora Impact DD and certain separately managed accounts (the \u201cAncora Alternatives SMAs\u201d), Ancora Alternatives may be deemed to beneficially own the 467,582 shares of Common Stock beneficially owned directly by Ancora Catalyst Institutional, 50,847 shares of Common Stock beneficially owned directly by Ancora Catalyst, 254,388 shares of Common Stock beneficially owned directly by Ancora Bellator, 471,755 shares of Common Stock beneficially owned directly by Ancora Merlin Institutional, 48,136 shares of Common Stock beneficially owned directly by Ancora Merlin, 518,909 shares of Common Stock beneficially owned directly by Ancora Impact CC, 286,169 shares of Common Stock beneficially owned directly by Ancora Impact DD and 563,976 shares of Common Stock held in the Ancora Alternatives SMAs. As the sole member of Ancora Alternatives, Ancora Holdings may be deemed to beneficially own the 467,582 shares of Common Stock beneficially owned directly by Ancora Catalyst Institutional, 50,847 shares of Common Stock beneficially owned directly by Ancora Catalyst, 254,388 shares of Common Stock beneficially owned directly by Ancora Bellator, 471,755 shares of Common Stock beneficially owned directly by Ancora Merlin Institutional, 48,136 shares of Common Stock beneficially owned directly by Ancora Merlin, 518,909 shares of Common Stock beneficially owned directly by Ancora Impact CC, 286,169 shares of Common Stock beneficially owned directly by Ancora Impact DD and 563,976 shares of Common Stock held in the Ancora Alternatives SMAs. As the Chairman and Chief Executive Officer of Ancora Holdings, Mr. DiSanto may be deemed to beneficially own the 467,582 shares of Common Stock beneficially owned directly by Ancora Catalyst Institutional, 50,847 shares of Common Stock beneficially owned directly by Ancora Catalyst, 254,388 shares of Common Stock beneficially owned directly by Ancora Bellator, 471,755 shares of Common Stock beneficially owned directly by Ancora Merlin Institutional, 48,136 shares of Common Stock beneficially owned directly by Ancora Merlin, 518,909 shares of Common Stock beneficially owned directly by Ancora Impact CC, 286,169 shares of Common Stock beneficially owned directly by Ancora Impact DD and 563,976 shares of Common Stock held in the Ancora Alternatives SMAs. As of the date hereof, Messrs. Boychuk, Fisher, Newport, Thomas, and Urban, Dr. Hayes and Ms. Simms do not beneficially own any shares of Common Stock.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20250407793732r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20250407793732\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20250407793732\/en\/<\/a><\/span><\/p>\n<p>\nLongacre Square Partners LLC<br \/>\n<br \/>Greg Marose \/ Bela Kirpalani, 646-386-0091<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:gmarose@longacresquare.com\">gmarose@longacresquare.com<\/a> \/ <a rel=\"nofollow\" href=\"mailto:bkirpalani@longacresquare.com\">bkirpalani@longacresquare.com<\/a><\/p>\n<p>\nSaratoga Proxy Consulting LLC<br \/>\n<br \/>John Ferguson \/ Joseph Mills, 212-257-1311<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:info@saratogaproxy.com\">info@saratogaproxy.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> United States North America Ohio<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Finance Manufacturing Professional Services Steel Asset Management<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\" \/>\n","protected":false},"excerpt":{"rendered":"<p>Ancora Sends Letter to U.S. Steel Stockholders Regarding its Slate\u2019s Win-Win Solution to Maximize Value Affirms Slate\u2019s Commitment to Pursuing the $55 per Share Sale to Nippon While Simultaneously Positioning U.S. Steel to Thrive Under an Alternative Standalone Scenario Details Proposed CEO Alan Kestenbaum\u2019s Five-Point Plan to Reverse the Burritt-Dominated Board\u2019s Mistakes and Revitalize U.S. Steel\u2019s Structurally Advantaged Union Plants Across the Rust Belt Highlights How Five-Point Plan Will Enable U.S. Steel to Deliver a $19.25 per Share Special Dividend and Target a Pro Forma Total Stockholder Return of $75+ Underscores View That Stockholders Will Face Irreversible Value Destruction Under the Burritt-Dominated Board if the Sale to Nippon Remains Blocked Vote on the GOLD Universal Proxy Card to Elect the &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/ancora-sends-letter-to-u-s-steel-stockholders-regarding-its-slates-win-win-solution-to-maximize-value\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Ancora Sends Letter to U.S. Steel Stockholders Regarding its Slate\u2019s Win-Win Solution to Maximize Value&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-834372","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - 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