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 industry has been struggling, as distributors have refrained from purchasing material in excess of their inventory amid a supply glut fueled by domestic production and imports.

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.

Activist investor Ancora Holdings is waging a proxy battle at U.S. Steel and wants the company to turn the page from its failed marriage with Nippon Steel. Ancora unveiled a plan that would rally shareholders around a plan to oust U.

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.

Activist investor Ancora Holdings Group has launched a proxy battle against US Steel. The firm has nominated nine candidates for US Steel's board, including Alan Kestenbaum, former CEO of Stelco Holdings Inc. Ancora is also pushing for Kestenbaum to replace US Steel's current CEO David Burritt.

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.

Activist investor Ancora called for a shakeup in U.S. Steel leadership on Monday and adding new members to the board of directors after the company's failed sale to Nippon Steel.