Lawndale Capital Management says that it wants the electronics company to explore alternatives, including a possible sale: "Lawndale...believes the current stock price fails to reflect the value of Sparton's defense and niche EMS [electronics-manufacturing-service] businesses, largely because of inadequate corporate-governance practices that have effectively entrenched Sparton's underperforming management team." Lawndale currently owns 960,000 shares (9.8% of the total outstanding).

A group including Ocwen Financial Chairman and CEO William Erbey has offered to acquire all the common shares that he doesn't already own for $7 each in cash. The investor group working with Erbey includes funds managed by Oaktree Capital Management and Angelo Gordon & Co. The investor group is "prepared to move very quickly to finalize the definitive transaction." Erbey holds 19,697,673 shares (31%).

West Creek Capital wrote to CSU director James Moore expressing concern about the proposed acquisition of senior-housing leases from Hearthstone Senior Services. West Creek believes that the Hearthstone transaction is "overwhelmingly unattractive" from a shareholder's perspective, and requests its immediate abandonment. West Creek holds 1,756,650 shares (6.6%).

The DellaCamera Capital Master hedge fund said that it is nominating three candidates for election to Enzon's board: John Geltosky, David Tendler and David Gale. DellaCamera previously suggested that Enzon consider structural changes to increase shareholder value, such as a sale of its Abelcet product line. DellaCamera Capital currently holds 2,355,281 (5.3%).

Trian Fund on Jan. 16 reported in its 13D amendment that it had boosted its position to 7.9% from 5.5%. Trian had filed a 13D in February 2007 saying that it wouldn't seek board representation at the 2007 annual meeting, in light of the board's commitment to engage in a dialogue with Trian regarding Trian's ideas and strategies to improve Tiffany shares' performance and to grow the company's brand. Trian stated its intent to help improve margins and earnings-per-share growth, and to address various other operational and strategic issues, including optimizing global-expansion opportunities and evaluating noncore businesses.

Riley Investment Management wants SSTI to implement an immediate $50 million Dutch tender offer, followed by an ongoing stock buyback. Riley believes there's a dislocation between the current market price and the value of SSTI's cash, investments, technology licensing, flash business and future revenue opportunities. Riley holds 6.22 million shares (6%).

Loeb Partners owns 80,585 shares (5%), after buying 68,084 from Nov. 15 to Jan. 4 at $2.36 to $2.55 apiece.

Shamrock Activist Value Fund, a California investment firm run by Walt Disney (DIS) founding-family member Roy E. Disney, increased its holdings to 3.31 million shares (7.3%) from the 2.27 million (6.09%) it had reported owning in September.