U.S. Commerce Secretary Howard Lutnick held back-to-back meetings with rival bidders for United States Steel (X) over the past week, meeting with Nippon Steel (NPSCY), which has offered to invest an additional $7B if the Japanese company completes its $14.1B takeover, as well as Ancora Holdings, an activist shareholder with a 1% stake in U.S. Steel that aims to oust the company’s board and install a new CEO, people familiar with the matter told Bloomberg’s Joe Deaux.
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