As we enter the heart of proxy season, several high-profile activist campaigns are coming to a head, with shareholders facing pivotal decisions about the future direction of the companies they own. From U.S. Steel’s contentious battle with Ancora to Elliott’s high-stakes showdown with Phillips 66, this year’s campaigns showcase a familiar activist playbook: push for accountability, demand operational excellence, and confront entrenched leadership. While each situation is unique, the underlying message from activists is consistent—boards and management teams must do more to unlock value and act in the best interests of shareholders.
U. S. Steel is a Pennsylvania-based industrial company that manufactures and distributes steel products for sectors including automotive, mining and construction.