SPO Partners boosts stake in Lamar to 22%

By Lisa Kerner

Charlotte, N.C., June 26 - Investors led by SPO Partners II, LP increased their ownership stake in Lamar Advertising Co. to 22%, from 19.1% on June 26, with the purchase of 1,137,490 additional shares of the company's stock.

The shares were acquired between July 1 and July 3, a schedule 13D/A filing with the Securities and Exchange Commission reported.

The shares were priced from $34.58 to $35.78.

SPO now owns 16,957,414 shares of the Baton Rouge, La., outdoor advertising company.

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