Ancora Holdings Group LLC has raised allegations against U.S. Steel CEO David Burritt, suggesting he may have engaged in insider trading related to the company's proposed $14.9 billion merger with Japan's Nippon Steel. Concurrently, the Trump administration is considering allowing U.S. Steel to remain a standalone business, according to multiple reports. Discussions have taken place between White House officials and Ancora, which is advocating for U.S. Steel's independence. Ancora Alternatives CEO Jim Chadwick confirmed these conversations to Axios.
Members of the White House held conversations in recent weeks with Ancora, the activist investor pushing to keep U.S. Steel independent, Ancora Alternatives CEO Jim Chadwick tells Axios. https://t.co/n3ZhTPVZhY
AXIOS: TRUMP ADMINISTRATION CONSIDERS LETTING US STEEL REMAIN A STANDALONE BUSINESS.
TRUMP ADMIN CONSIDERS LETTING US STEEL REMAIN A STANDALONE BUSINESS - AXIOS