Paulson eyeing Hritz for Algoma board

Dec 20, 2005 | 04:19 PM | Maria Guzzo

Paulson & Co. Inc. is hoping to place John Hritz, former president of AK Steel Corp., on the board of directors at Algoma Steel Inc.

The New York-based investment management company is a major shareholder of Algoma, Sault Ste. Marie, Ontario, and has requested a special shareholders meeting to replace a majority of current Algoma directors. It also has requested a vote on a resolution directing Algoma's board to consider a corporate reorganization that would result in the distribution of a minimum of Canadian $400 million ($341 million) to shareholders, comprising the proceeds of....

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