Gamco continues to invest in Gehl, increases ownership to 7.54%

By Lisa Kerner

Charlotte, N.C., Oct. 1 - Gehl Co. investors led by Gamco Asset Management Inc. upped their stake to 7.54% from 6.24% with the purchase of 158,424 additional shares.

According to a schedule 13D filed with the Securities and Exchange Commission, the shares were acquired between Sept. 22 and Sept. 30 at prices from $29.4409 to $29.72 each.

Gamco beneficially owns 915,320 shares of Gehl's outstanding shares.

On Sept. 8, shareholder Manitou BF SA agreed to buy the company for $30.00 per share in an all-cash transaction valued at $450 million.

Manitou subsidiary Tenedor Corp.'s tender offer for the shares ends Oct. 20, it was previously reported.

Located in West Bend, Wis., Gehl manufactures compact equipment used in construction and agricultural markets.

Manitou manufactures and distributes material-handling equipment used in the construction, agriculture and industrial markets. The company is based in Ancenis, France.

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