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.

Last week, Nippon Steel and U.S. Steel filed two lawsuits after U.S. President Joe Biden blocked a $14.9 billion buyout of the American steelmaker by the Japanese firm. President-elect Donald Trump takes office on Monday.

Activist investor Ancora has nominated nine candidates to U.S. Steel's board of directors after reporting a 0.18% stake in the steelmaker, the company said on Monday. On Sunday, the Wall Street Journal reported that Ancora intends to rally shareholders to oust U.

The Cleveland-based activist investor intends to push U.S. Steel to end litigation aimed at rescuing the Nippon Steel deal and instead collect a $565 million breakup fee.

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.

Asset manager seeks to oust leadership of US Steel and quash deal with Nippon after acquiring a stake in US steelmaker

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.