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.

Activist investor Ancora Holdings is preparing to wage a proxy battle at U.S. Steel and wants the company to turn the page from its failed marriage with Nippon Steel, according to people familiar with the matter.

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.

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.

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.

Nucor may be interested in acquiring parts of U.S. Steel if the $14.9 billion deal for Nippon Steel to purchase U.S. Steel falls through.

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.