Mindful of consolidating industry, Algoma adopts shareholder plan

Nov 17, 2004 | 08:58 AM |

Algoma Steel Inc. has adopted a shareholder rights plan that would give the company and its shareholders more time to evaluate any potential takeover offers and maximize its value.

The Sault Ste. Marie, Ontario,-based steelmaker decided to adopt the plan amid the ongoing consolidation in the North America steel industry, but said it wasn't aware of any proposed bids for its operations.....

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