Hedge fund Ramius wants Actel to sell its flash business or "significantly reduce expenses" in it and focus only on its core end markets. Ramius also wants the company to look into a joint venture with a large competitor that could offer development and marketing support, and that has the tools to increase market share and profitability in more competitive end markets. Ramius currently holds 2,047,839 shares (7.9% of the outstanding). For more details, see the Activist Spotlight, at right.

DellaCamera Capital Master Fund said it has engaged investment bank Moelis & Co. to explore alternatives for its investment in Enzon. The investor previously said it may consider a "public-consent solicitation" to amend the company's bylaws. It also called for Enzon to take certain actions to increase shareholder value, including looking at an $80 million share-repurchase program, monetizing a minimum of $70 million of the company's royalty streams, and soliciting bids for Enzon's marketed products and royalty segments. DellaCamera currently holds 3,553,558 shares (7.8%).

Morgan Stanley (MS) reported holding 839,842 common limited-partner units (8.4%) on November 19.

The Philip Stephenson Revocable Living Trust reported ownership of 791,154 shares (5.5%), after buying 636,632 from Sept. 10 to Nov. 13 at $3.10 to $5.20 each. The trust acquired the shares because it believed they were "undervalued and represented an attractive investment opportunity." The trust intends to communicate with the company's board, management or other shareholders about exploring options for enhancing shareholder value.

Trilogy reported ownership of 1,437,891 shares (5.1%), after buying those shares from Oct. 8 to Nov. 10 at 89 cents to $1.05 a share.

GIF Gestao de Investimentos e Participacoes reported ownership of 31,666,666 shares (18.2%), after buying those shares through a purchase agreement on Oct. 20 and 27 at $4.50 a share.

Fosun Industrial raised its stake to 10.03 million shares (7.4%) from 8.66 million (6.4%) reported on Oct. 31.

Billionaire investor Kirk Kerkorian's investment vehicle, Tracinda, increased its holdings to 37,228,000 shares (36.02%), after buying 1.1 million shares on Nov. 11 and 12 at about $5.61 apiece. Tracinda purchased the shares because it believes that Delta's stock is "significantly undervalued." Tracinda supports Delta Petroleum's decision, announced Oct. 31, to consider joint-venture alternatives, as well as possible partial-sale transactions, involving the company's oil and gas interests in the Piceance Basin of Colorado.