Bicknell Family Holding said that there is "clearly a need for a change" on Team Financial's board, in order to "produce greater independence, more active and effective oversight, fresh thinking, financial discipline and better leadership." Bicknell also said it's concerned about the deterioration of the Kansas-based multibank-holding company's financial condition and performance, the loss of stockholder value, numerous instances of poor corporate governance, and excessive executive compensation, among other things. Bicknell plans to vote its shares in favor of dissident former director Keith B. Edquist's nominees at the company's June 17 shareholder meeting. Bicknell currently holds 427,025 shares (11.9% of the total outstanding).

Ohio retail mogul Jay L. Schottenstein reported owning 29.86 million shares (50.6%) in Retail Ventures, operator of the Filene's Basement store chain. Schottenstein heads Schottenstein Stores, which has stakes in several retailers like Value City Furniture, American Eagle Outfitters (AEO) and footwear specialist DSW (DSW). Schottenstein Stores recently contributed about 20 million Retail Ventures shares, including warrants to purchase common shares, to its own vehicle, Schottenstein RVI, a limited liability company formed with Schottenstein Stores as its sole member.

Buyout firm American Capital Strategies' (ACAS) said that it has ended its merger agreement with Merisel because the visual-communications company has undergone a "material adverse effect," and is therefore unable to satisfy the closing conditions of their pact. Merisel previously disputed this characterization and said it is in compliance with all of its merger obligations. As a result, it said last week that the agreement remains "in full force and effect," and that it expects American Capital to consummate the deal. On May 30, American Capital sent a letter to Merisel's counsel, saying that Merisel has experienced a "company material adverse effect" to its business because its actual first-quarter results were worse than those earlier disclosed. It suggested the two renegotiate the terms of its $5.75 a share buyout offer. American said that it considers the termination effective, but that it reserves the right to evaluate a revised transaction with Merisel.

Riley Investment Management said that it recently sent Transmeta a demand for a list of shareholders for the purpose of soliciting proxies and communicating with investors about the company's 2008 annual meeting. In mid-May, Riley said it was nominating Bryant Riley and Melvin Keating for election to the company's board at the upcoming shareholders' meeting. Riley previously expressed interest in acquiring the processor-technology company for $15.50 a share, but Transmeta said the offer undervalued the company. Riley has 1,113,133 shares (9.2%).

Francisco Partners II reported holding 2,119,460 shares (5.25%); however, no transaction details were provided.

TCS Capital GP said it had accumulated a 8,573,600-share (24.3%) stake. TCS said that its holdings include initial-public-offering warrants. TCS purchased the shares for investment, and retains the right to seek representation on the company's board, or to work with management and the board regarding potential strategies to increase shareholder value.

ValueAct Capital Management raised its position to about 3.74 million shares (9.9%), from the 3.11 million (8.2%) reported on May 14.

Karen Singer entered into a stock-ownership agreement with the company that will allow her, on behalf of herself and affiliates, to purchase up to 18% of Arbinet's outstanding common stock. If within three years from the date of the agreement Singer becomes the owner of 18% or more of the outstanding common stock, she will not be able to engage in any business combination with the company for a period of three years from the date she reached 18%.