X0202 4 2007-11-15 1 0000941738 WHEELING PITTSBURGH CORP /DE/ WPSC 0001350639 Del Mar Asset Management, LP 711 FIFTH AVENUE FIFTH FLOOR NEW YORK NY 10022 0 0 1 0 0001418980 DEL MAR MASTER FUND, LTD. 711 FIFTH AVENUE NEW YORK NY 10022 0 0 1 0 0001418981 DEL MAR MANAGEMENT, LLC 711 FIFTH AVENUE NEW YORK NY 10022 0 0 1 0 0001418982 FREELOVE DAVID 711 FIFTH AVENUE NEW YORK NY 10022 0 0 1 0 Common Stock, par value $0.01 per share ("Common Stock") 2007-11-15 2007-11-15 4 U 0 1739926 D 0 I See footnote The shares of Common Stock to which this Form 4 relates are held directly by Del Mar Master Fund, Ltd., a Cayman Islands exempted company (the "Master Fund"). Del Mar Asset Management, LP, a Delaware limited liability company ("DMAM"), serves as the investment manager of the Master Fund and as such has discretion over the portfolio securities beneficially owned by the Master Fund. Del Mar Management, LLC., a Delaware limited liability company (the "GP"), is the general partner of DMAM and directs DMAM's operations. Mr. David Freelove is the managing member of the GP. DMAM, the GP and Mr. David Freelove disclaim beneficial ownership of the reported securities except to the extent of their pecuniary interest therein. The shares of Common Stock to which this Form 4 relates were disposed of pursuant to the amendment to the Agreement and Plan of Merger and Combination, dated March 16, 2007 (the "Merger Agreement") with respect to the proposed business combination of the Issuer and Esmark Incorporated. The Reporting Persons elected their "put rights" and filed their election form pursuant to the Form S-4 Registration Statement of Clayton Acquisition Corporation ("New Esmark") on November 15, 2007 by electing the right to receive $20.00 per share in cash for their shares of Common Stock as of the effective date of the merger. However, pursuant to the Merger Agreement, the right to receive $20.00 per share may be subject to proration if this right is elected by shareholders in excess of certain thresholds, in which case, pursuant to the Merger Agreement, the Reporting Persons will receive certain shares of New Esmark stock, the value of which cannot be determined as of this date, in exchange for some of the shares of Common Stock to which this Form 4 relates. /s/ David Freelove; (a) individually; (b) as managing member of Del Mar Management, LLC, for itself and as the general partner of Del Mar Asset Management, LP, for itself and as the investment manager of Del Mar Master Fund, Ltd. 2007-11-19