15 Recent Activist Investor Campaigns

9. United States Steel Corporation (NYSE:X)

Value of Stake: $1 Billion

Ancora Holdings Activist Campaign Initiated: January 2025

Number of Hedge Fund Holders: 63

United States Steel Corporation (NYSE:X) is a basic materials company that manufactures a wide range of steel products. It also invests in technology to support the growing demand for electric vehicles and other green energy production. Activist hedge fund Ancora Holdings has been adding stakes in the steel company while pushing for management changes as part of its activist campaign.

With stakes worth $100 million, Ancora Holdings wants to replace the board and install a new chief executive officer. The push for management changes is part of the activist hedge fund bid to steer the American steelmaker’s turnaround. The hedge fund insists its turnaround plan has the potential to deliver more than $75 per share if a proposed takeover by Nippon Steel Corp falls through.

In addition to pushing for management changes, Ancora Holdings wants United States Steel Corporation (NYSE:X) to use part of its existing cash and liquidity to invest in revitalizing plants in Pennsylvania, Ohio and Illinois. The activist hedge fund also wants the steel producer to use proceeds from potential asset sales to fund a new $3.2 billion blast furnace facility in Indiana. Ancora wants US Steel to divest its non-union Big River assets valued at between $8 billion and $9 billion.