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Gabelli-led investors up stake in Lifecore to 15.56%
By Lisa Kerner
Charlotte, N.C., March 10 - Investors led by Gabelli Funds, LLC bought 140,000 additional shares of Lifecore Biomedical, Inc., increasing their ownership interest in the company to 15.56% from 13.4%.
The shares were acquired between Feb. 26 and March 5 priced from $16.75 to $16.85, according to a schedule 13D filing with the Securities and Exchange Commission.
The investors beneficially own 2,110,103 shares of Lifecore's outstanding stock.
It was previously reported that Lifecore agreed to be acquired by affiliates of Warburg Pincus LLC through a $17.00-per-share tender offer in a going-private deal valued at some $239 million.
Lifecore expects the transaction to close by the end of the first quarter.
Warburg Pincus is a private equity investor based in New York.
Lifecore develops biomaterials and medical devices for use in various surgical markets through its dental division and hyaluronan division. The company is based in Chaska, Minn.
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