Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers L > Headlines for Lamson & Sessions Co. > News item |
Investor sells off shares of Lamson & Sessions
By Lisa Kerner
Charlotte, N.C., Sept. 20 - Farhad Fred Ebrahimi and Mary Wilkie Ebrahimi sold 285,800 shares of Lamson & Sessions Co. common stock between Aug. 20 and Sept. 19 priced from $26.45 to $26.96 each.
The transactions were reported in a schedule 13D filing with the Securities and Exchange Commission.
While the shares were bought for investment purposes, the Ebrahimis "may decide that it is desirable to seek control or influence the management and policies of the issuer's board of directors, by seeking a position as an officer of the issuer, by contractual arrangement with the issuer or by other means," the filing stated.
The reporting persons own 1,123,300 shares, or 7.1%, of the Cleveland-based company. Lamson & Sessions produces thermoplastic enclosures, fittings, wiring outlet boxes and conduits for the electrical, telecommunications, power and wastewater markets.
It was previously reported on Aug. 16 that electrical component manufacturer Thomas & Betts Corp. will acquire Lamson & Sessions in an all-cash transaction valued at $27.00 per share, or some $450 million. The transaction is slated to close in late 2007 pending Lamson & Sessions shareholder approval.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.