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ValueAct increases stake in Steinway
By Lisa Kerner
Charlotte, N.C., Sept. 10 - Steinway Musical Instruments, Inc. investors led by ValueAct SmallCap Master Fund, LP bought 110,041 shares of the company's stock between Aug. 29 and Sept. 7.
The shares were priced from $29.99 to $30.86 each and were reported in a schedule 13D filing with the Securities and Exchange Commission.
ValueAct owns 532,731shares, or 6.6%, of the Waltham, Mass., musical instrument manufacturer.
On Aug. 29, ValueAct reported the purchase of 422,330 shares of Steinway stock between July 26 and Aug. 28 priced from $30.63 to $33.88 per share. At that time, the investor owned 422,690 shares, or 5.2%, of the company's outstanding stock, a prior SEC filing stated.
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