Harbinger sells remaining shares of Ryerson

By Lisa Kerner

Charlotte, N.C., Aug. 28 - Investors led by Harbinger Capital Partners Master Fund I, Ltd. sold their remaining shares of Ryerson, Inc. common stock and terminated their Jan. 8, 2007 and Jan. 9, 2007 total return swap agreements.

Harbinger sold 2,525,781 shares of the company's stock between Aug. 23 and Aug. 27 priced from $32.18 to $32.44 each and now has a 0% stake in Ryerson. The transactions were reported in a schedule 13D filing with the Securities and Exchange Commission.

On Aug. 27, Harbinger reported the sale of shares following the election of Ryerson's incumbents to its board of directors. The investor had a 7.76% stake in the Chicago-based metal processing company.

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