Harbinger Capital Boosts Stake in AK Steel (AKS) to 11.8%

March 5, 2008 11:18 AM EST

In an amended 13G filing after the close on AK Steel Holding (NYSE: AKS), Harbinger Capital disclosed an 11.8% stake (13,231,045 shares) in the company. This is up from the 9.1% (10,098,378 shares) stake the firm showed in a February filing.

AK Steel produces flat-rolled carbon, stainless and electrical steels, primarily for automotive, appliance, construction and electrical power generation and distribution markets.

As of June 1, 2007, Harbinger Capital Partners was managing in excess of $8.7 billion. Harbinger is a disciplined, value investor with an emphasis on intensive credit research. Its focus is on middle market companies that tend to be misunderstood or under-researched by the market. Investment approaches include: Restructuring/Bankruptcy, Turnaround, Liquidation, Event Driven, Capital Structure Arbitrage, Short Sale and Special Situations. Harbinger Capital Partners is a subsidiary of Harbert Management Corporation.

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13Gs

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• Harbinger Capital
• Harbert Management

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