Pentwater Capital Management, the third largest investor in U.S. Steel (X), told Bloomberg that it supports U.S. Steel’s current board and management and rejects Ancora’s proxy contest, reports Joe Deaux and Yiqin Shen. “Pentwater believes US Steel’s board and management team are making the correct strategic decision for the company and Pentwater will not support the dissident slate of directors,” Pentwater’s Matt Halbower told Bloomberg in a phone interview.
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