Steel Partners wants Ikon to recapitalize through an $850 million self-tender at $17.50 per share, or to explore other strategies, including a sale, to maximize shareholder value. On Oct. 12, Steel Partners and Ikon entered into a confidentiality and standstill agreement that will let them discuss the proposed recapitalization and other issues. The six-month standstill pact allows Steel Partners to nominate directors and solicit proxies for their election at the next shareholders meeting.

Amalgamated Gadget wants the company to conduct a "fair and open auction process." Amalgamated stated that it applauds the company's opposition to investor Gerald J. Ford's efforts to reprice his original $80 million investment agreement. It also said that it believes that the time has come to stop the "non-public and unproductive negotiations" with Ford and instead conduct an auction, so that Fremont can obtain the best available terms. Amalgamated currently owns 6,500,000 shares (8.3% of the total outstanding).

Lawndale Capital Management said that Mace was adopting certain changes to its board and corporate-governance policies to avoid a proxy fight between the two parties. As a result, Lawndale has agreed to withdraw its previous requests and support a proposed six-member slate for Mace's 2007 annual meeting. The proposed slate includes two of the four independent directors nominated by Lawndale: Dennis Raefield and Gerald LaFlamme; one independent director submitted by Mace: Jack Mallon; and three current board members: Mark Alsentzer, Dr. Constantine Papadakis and Louis Paolino Jr. Lawndale said Mace will expand its board to six directors from five by the end of October and will appoint Raefield as an independent director. Lawndale Capital holds 1,574,479 shares (9.6%).

Northaven Management intends to vote against the company's proposed merger with Community Bankers Acquisition (BTC). Northaven contends that the terms of the transaction will have "a significantly dilutive impact" on the existing owners' share of the company's current and prospective intrinsic value. Northaven also urged TransCommunity's board to "immediately seek to extricate itself from the merger agreement, and to explore all options to maximize value for existing shareholders." Northaven owns 457,000 shares (9.9%).

Cisco Systems (CSCO) reported ownership of 6 million Class A common shares (8%), which it purchased on Aug. 23 at $25 per share

Cibelli Capital Management raised its holdings to 1.87 million shares (11.31%) from the 1.6 million (9.71%) it had reported on Aug. 17.

Barnes & Noble's founder and chairman, Leonard Riggio, increased his stake to 15.8 million shares (24.4%) from the 15.3 million (22.9%) reported as of March 31. Riggio, the company's largest shareholder, said that he intends to purchase additional shares from time to time.

Quercus Trust raised its position to 631,809 shares (7.6%) from the 535,058 (6.5%) that it had reported owning on Sept. 28.