AVP (AVPI) Diker Management wants AVP to reconsider its proposed $1.23-a-share merger transaction with Shamrock Holdings. Diker has "significant reservations" about the deal by certain affiliates of Shamrock, and if the terms aren't amended to better reflect AVP's true value, Diker would "not support the transaction." Diker holds 18.02% of the total shares outstanding.

Gold Reserve (GRZ) A shareholder group led by Strongbow Capital is concerned about GRZ's planned gold operation in Venezuela. Strongbow believes that, to finance the project, GRZ should explore methods other than a potentially dilutive share issue. Among the alternatives: forward sales of gold and copper, a joint venture with a third party, a strategic investment in GRZ by a major mining company or a sale of GRZ. The Strongbow group holds about 2.15 million shares (5.3%).

Pier 1 Imports (PIR) A group including Elliott Associates wants Pier 1 to close numerous stores. The investment group said that it's "puzzled" by the pace of PIR's cost-cutting and restructuring, which it considers too slow. Elliott suggested that more savings would bring "immense value" to shareholders through creation of a "leaner, profitable company," fit to weather competition. Elliott also wants new members added to the board. The group holds about 4.84 million shares (5.5%).

Herbalife (HLF) Whitney V has ended discussions about a proposal to acquire all outstanding HLF shares at 38 each, but will keep reviewing developments at HLF. Whitney held 19,048,279 shares (26.7%) as of Jan. 31.

Erie Indemnity (ERIE) Sentinel Trust intends to nominate Thomas B. Hagen as a director to Erie Indemnity's board at the annual meeting, scheduled for April 17. Sentinel Trust would also like the company to consider increasing the size of the board to 15 members from its current 14. Sentinel Trust reported holding 2,340 Class B common shares (82.3%).

Alpha Natural Resources (ANR) Sun Capital Securities owns 3,281,500 shares (5%), bought from March 5 to 27 at $13.59 to $15.67 each.

National R.V. Holdings (NVH) Yorktown Avenue Capital reported ownership of 635,108 shares (6.1%) after buying them from Feb. 6 to March 23 at $1.98 to $3.74 a share.