ValueAct continues to build stake in Steinway

By Lisa Kerner

Charlotte, N.C., Nov. 9 - ValueAct SmallCap Master Fund, LP bought 207,333 additional shares of Steinway Musical Instruments, Inc. stock, increasing its stake in the company to 9.1% from 6.6%.

The shares were purchased between Sept. 12 and Nov. 8 priced from $28.05 to $29.00 each, according to a schedule 13D filing with the Securities and Exchange Commission.

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

On Sept. 10, ValueAct reported the purchase of 110,041 shares of Steinway stock between Aug. 29 and Sept. 7 priced from $29.99 to $30.86 each for a 6.6% stake in the company. The investor reported owing 5.2% of the company's stock in an Aug. 29 SEC filing.

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