The Globe and Mail reports in its Saturday edition that Canadian billionaire Barry Zekelman is not ruling out a takeover of Algoma Steel as he weighs several options after his privately held steel products company recently took an equity stake in the venerable Canadian steelmaker. The Globe's Niall McGee writes that Chicago-based Zekelman Industries in late July revealed in a 13D filing with the U.S. Securities and Exchange Commission that it amassed a 5-per-cent share of Sault Ste. Marie-based Algoma. Such filings are required for activist as opposed to passive investors. Zekelman Industries said it may engage with management and the board, or other shareholders about "potential business combinations, dispositions or other transactions." Mr. Zekelman, who was born in Windsor, Ont., took over the company at age 19 after the sudden death of his father in 1986. Zekelman Industries is the largest buyer of flat rolled steel in North America and a major player in modular home construction, with annual sales in excess of $5-billion (U.S.). The company has grown in part by making acquisitions. Mr. Zekelman said it is a long-standing dream of his is to own a steel mill, but is unsure whether buying Algoma is the right move.