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Medline CEO Mills cuts ownership of Medical Action Industries to 6.2%
By Lisa Kerner
Charlotte, N.C., Nov. 10 - Medline Industries, Inc. chief executive officer Charles N. Mills and his affiliates sold 41,500 shares of Medical Action Industries, Inc. between Sept. 14 and Nov. 9 priced from $11.57 to $13.35 per share, according to a schedule 13D/A filed on Tuesday with the Securities and Exchange Commission.
Mills beneficially owns 1,001,366 shares, or 6.2%, of Medical Action's outstanding stock.
As previously reported, Medline, a privately held manufacturer of health-care supplies and services based in Mundelein, Ill., inquired about a possible strategic transaction with Medical Action Industries several times, most recently in March 2009.
Medical Action makes disposable medical products and is based in Hauppauge, N.Y.
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