ValueAct buys more shares of Steinway

By Lisa Kerner

Charlotte, N.C., Nov. 8 - ValueAct SmallCap Master Fund, LP purchased 906,214 shares of Steinway Musical Instruments, Inc. stock priced between $28.05 and $29.00 each.

The transactions occurred between Sept. 12 and Nov. 8, according to a schedule 13D filing with the Securities and Exchange Commission.

ValueAct owns 740,064 shares, or 9.1%, of the Waltham, Mass., musical instrument manufacturer.

On Sept. 10, the investor reported ownership of 532,731 shares, or 6.6%, of Steinway's outstanding stock. ValueAct reported a 5.2% stake in the company on Aug. 29.

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