The New York-based hedge fund that pushed Algoma Steel Inc. (TSX: AGA) to make a large cash payment toits shareholders has decreased its holdings in the company from about 19 per cent to five per cent.
Paulson & Co. disclosed in regulatory filings this week that, as of March 31, it held 1,926,600 Algoma shares, or about five per cent of the Sault Ste. Marie-based steelmaker.
That’s down from about 19 per cent in its last disclosure at the beginning of November.
