Texas Pacific Land Trust (TPL) Mercury Real Estate Advisors called for the company to accelerate its stock-buyback program. Mercury also said that Texas Pacific should split its subshares, 10-for-1, to "create greater liquidity and round-lot affordability" for them. "We are tremendous believers" in Texas Pacific's "valuable assets and business plan." However, Mercury wants "more aggressive implementation" of the buyback. Mercury currently holds 171,887 shares (8.1% of the total outstanding).

Claxson Interactive Group (XSONF) Black Horse Capital Management boosted its stake to 2,036,121 shares (9.4%) by buying 224,901 from April 18 to May 18 at prices that ranged from $12 to $12.75. In the past, Black Horse has said that a proposed buyout offer by Claxson's controlling shareholders is "entirely inadequate," and it urged the company's board to reject the bid. A special committee of independent directors was formed to evaluate the proposal.

MGM Mirage (MGM) Billionaire investor Kirk Kerkorian's Tracinda Corp. intends to enter into negotiations with MGM to purchase the entertainment and gaming company's Bellagio Hotel and Casino and City Center properties. Tracinda said it also wishes to pursue strategic alternatives with respect to its investment in MGM, the world's second-largest casino operator. These might include a financial restructuring involving all or a substantial portion of the remainder of the company. Tracinda owns 158.8 million shares (56%).

Arrow International (ARRO) Shareholder Robert W. Cruickshank intends to nominate five additional directors, including himself, for election to the company's board. One of his nominees will be Richard T. Niner. Earlier this month, Niner, who was a member of Arrow's board for 25 years, resigned amid concern over why the directors have decided to explore a sale. The annual meeting is scheduled for July 17. Cruickshank has 4,624,494 shares (10.3%).

Scottish Re Group (SCT) MassMutual Capital Partners said it had nominated a slate of directors, including Jonathan Bloomer, Christopher Brody, James Butler, James Chapman, Thomas Finke, Robert Joyal, Larry Port, Michael Rollings and Lenard Tessler. MassMutual Capital holds 75 million shares (34.4%).

LNB Bancorp (LNBB) AMG Investments said that it's concerned about the company's loans to its officers and directors. AMG contends that LNB, the holding company for Lorain National Bank, had outstanding loans to related parties of almost $25 million at the end of 2006, representing nearly 4% of the company's net loan portfolio. AMG said that such loan exposure to insiders is unusual at similar banks. AMG added that is disappointed in the company's performance and believes that it is imperative for management and the board to take immediate steps to maximize shareholder value. AMG Investments owns 533,681 shares (8.3%).

Biosite (BSTE) Funds including Mario Gabelli's Gamco Investors (GBL) increased their position to 1,506,034 shares (8.81%).