Barron's Activist Stocks 4-23-07
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Created by Barrons
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Date updated:04-21-2007

Each week Barrons has a 13D Filings column. 13Ds are filed when a fund (usually an activist hedge fund) accumulates more than 5% of a firm and is planning on pushing for change (e.g.a sale of the company, sale of certain assets, a share buyback, or a share dividend) to unlock value.

symbol name last price % change open

Claxson Interactive Group (XSONF) Black Horse Capital Management said that the proposed $10.50 cash buyout offer by the company's controlling shareholders is "entirely inadequate," and implored the board to reject it. Black Horse Capital added that Claxson's net-cash position alone would likely exceed the $10.50-per-share offer and that the proposed transaction doesn't compensate minority holders for Claxson's remaining valuable assets. Black Horse Capital holds about 1.8 million Class A shares (8.4% of the total outstanding).

People owning XSONF.PK also tend to own: APRODHOMECPGHDLLAURNAHCPAGI

TheStreet.com Rating: No Rating What is this?

  • +
  • LAUR
    Laur
  • $0.00
  • N/A
  • $N/A

Laureate Education (LAUR) Select Equity Group said it has "significant reservations" about the management-led buyout of Laureate Education, citing the proposed $60.50-per-share price as "grossly inadequate." Laureate's board agreed to a $3.1 billion buyout led by founder and CEO Douglas L. Becker and backed by a private-equity consortium including Kohlberg Kravis Roberts, Citigroup Private Equity and hedge fund S.A.C. Capital Management. Select Equity Group owns 5,051,076 shares (9.82%).

People owning LAUR also tend to own: AMGNAXPCATCITCLCMCSACMX

TheStreet.com Rating: No Rating What is this?

  • +
  • STBC
    State Bancorp
  • $6.90
  • +1.32%
  • $6.99

State Bancorp (STBC) A group including PL Capital plans to withhold its vote at this year's annual meeting for four current directors on the company's 13-member board. The group is urging the company's chairman and chief executive, Thomas F. Goldrick Jr., and two vice chairmen, Richard W. Merzbacher and Daniel T. Rowe, to resign from the board. The PL Capital group also contends that the company isn't properly administering its incentive-award policy. The PL Capital group holds 702,090 shares (5.1%).

People owning STBC also tend to own: ACOACUADXCATCEADGICBHON

TheStreet.com Rating: D+ What is this?

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  • APRO
    Apro
  • $0.00
  • N/A
  • $N/A

America First Apartment Investors (APRO) Winthrop Realty Trust (FUR) said that while it supports America First's decision to retain an investment adviser to initiate a sale of the company, it believes that the process is "flawed, to the detriment of all non-management shareholders." Winthrop made certain proposals in its letter that, it argues, could enhance the bidding process. Winthrop owns 794,856 shares (7.2%).

People owning APRO also tend to own: ASYHRTJSTTCHCDODGXTWXDHOM

TheStreet.com Rating: No Rating What is this?

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  • DHOM
    Dhom
  • $0.00
  • N/A
  • $N/A

Dominion Homes (DHOM) Investor James Michael Rhodes reported ownership of 593,834 shares (7.07%), bought from Jan. 22 to April 11 at $4.08 to $5.12 per share.

People owning DHOM also tend to own: ARKRCHCIECREEEEESRXFBPIMOS

TheStreet.com Rating: No Rating What is this?

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  • ECPG
    Encore Capital Gr
  • $17.51
  • -4.16%
  • $18.35

Encore Capital Group (ECPG) Red Mountain Capital Partners raised its holdings to 3,435,062 shares (15.1%) by buying 1,144,062 from March 1 to April 11 at $9.32 to $9.96 apiece. That total includes 1,650,000 obtained through an April 5 purchase agreement, at $9.50 a share.

People owning ECPG also tend to own: APNS.OBAVNRDSCOEBHIEVICGEIMA

TheStreet.com Rating: C+ What is this?

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  • HDL
    Hdl
  • $0.00
  • N/A
  • $N/A

Handleman (HDL) Third Avenue Management raised its position to 3,163,062 shares (15.6%), by buying 53,331 from Feb. 15 to March 15 at $6.70 to $7.59 each.

People owning HDL also tend to own: AHRAINVALABSETCOPDELLDLX

TheStreet.com Rating: No Rating What is this?

  • +
  • NAHC
    National Atlantic
  • $0.00
  • 0.00%
  • $N/A

National Atlantic Holdings (NAHC) Loeb Partners raised its stake to 1,099,949 shares (9.9%), by purchasing 494,525 from Feb. 27 to April 11 at prices that ranged from $12.02 to $13.01.

People owning NAHC also tend to own: CCRTCOPDVNESVFMDGLWGS

TheStreet.com Rating: D What is this?

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Q. can anyone explain the BGF seper...
11.12.09 | 20:03 PM Asked by BS7518

A. BGF was an enhanced income security,
which represented one share of common
stock (BGS) plus $7.15 principal amount
of senior subordinated debt. They first
separated the note from the stock, then
did a partial redemption of the bond.
You should have received the following
for each share of BGF
1 share common (BGS)
$4.28 cash per share for the partial
redemption (this includes dividend)
1 note with face value of $3.11

There really is no market for the bond
portion. You will probably end up
holding it until redemption.

Hope that helps.

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