An activist shareholder is planning a proxy battle at United States Steel Corp. to force the end of the controversial $14.9 billion acquisition by Nippon Steel, The Wall Street Journal reported late Sunday.

The bid by Japan’s Nippon Steel to buy U.S. Steel may have a new lease on life, even as the potential for a new bid for the storied Pittsburgh steelmaker began to emerge Monday

The hearing for a lawsuit that Nippon Steel and U.S. Steel brought against U.S. President Joe Biden's administration is scheduled for February and March, Kyodo news agency reported on Monday, without citing sources.

Japan Prime Minister Shigeru Ishiba asked U.S. President Joe Biden to allay concerns in the Japanese and U.S. business communities over the status of Nippon Steel’s 5401.T planned acquisition of U.S.

United States Steel stock has dropped almost 25% in the last one year, compared to the S&P500 index which has gained 24% during the same time..

June, was viewed by U.S. Steel and investors as an opportunity for the companies to complete the acquisition, even though Trump also opposes the deal.

The companies, whose $55 a share cash deal to acquire U.S. Steel was first proposed Dec. 18, 2023, are working against a June 18 deadline for the merger.

Activist investor Ancora Holdings has built a stake in U.S. Steel and wants the steelmaker to drop its merger agreement with Japan's Nippon Steel, the Wall Street Journal reported on Sunday, citing sources.

Activist investor Ancora Holdings is opposing U.S. Steel's merger with Nippon Steel and is pushing for leadership changes. Ancora has nominated candidates for U.S. Steel's board and aims to replace CEO David Burritt,

Ancora has nominated nine nominees for U.S. Steel’s 12-member board including former Stelco (TSX: STLC) CEO Alan Kestenbaum, who previously revitalized the Canadian steelmaker before its acquisition by Cleveland-Cliffs (NYSE: CLF ), according to the report.