I-Flow investors buy 256,820 shares ahead of Kimberly-Clark merger

By Lisa Kerner

Charlotte, N.C., Oct. 28 - A group of investors led by Gamco Asset Management Inc. and Gabelli Funds, LLC bought 256,820 shares of I-Flow Corp. between Oct. 22 and Oct. 27 at prices from $12.60 to $12.62 each, according to a schedule 13D/A filed on Wednesday with the Securities and Exchange Commission.

Between Aug. 24 and Oct. 21, Gamco and Gabelli bought 1,840,264 shares priced from $8.28 to $12.72 each for an 8.21% stake, a prior SEC filing said.

The investors beneficially own 2,263,584 shares, or 9.26%, of I-Flow's outstanding stock.

On Oct. 9, Kimberly-Clark Corp. announced it will acquire I-Flow for $12.65 per share in a transaction valued, net of acquired cash and cash equivalents, at about $276 million.

Dallas-based Kimberly-Clark is a consumer products manufacturing company.

I-Flow is a biotechnology company based in Lake Forest, Calif., that develops drug-delivery systems.

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