Ancora Says Its US Steel Turnaround Plan Worth $75 a Share (2)

Ancora Holdings Group unveiled a turnaround plan for United States Steel Corp. it estimates would deliver more than $75 per-share in value to shareholders if a takeover by Nippon Steel Corp. falls through.

The activist investor, which is seeking to replace US Steel’s board and chief executive officer, outlined a plan that would involve using existing cash and liquidity to invest about $3 billion to revitalize plants in Pennsylvania, Ohio and Illinois, according to a letter to shareholders Monday, confirming a Bloomberg News report.

It would also seek to use proceeds from asset sales to help fund a new $3.2 ...