Ramius sells shares of Lenox, keeps 11.8% stake

By Lisa Kerner

Charlotte, N.C., May 20 - Investors led by Ramius LLC sold 210,316 shares of Lenox Group Inc. between April 24 and May 9.

The shares were priced from $1.45 to $1.56 each, according to a schedule 13D filing with the Securities and Exchange Commission.

The investors beneficially own 1,700,205 shares, or 11.8%, of the Eden Prairie, Minn.-based gifts and collectibles distributor.

In January, Lenox announced it would explore strategic alternatives, including a possible sale of the company, in a process expected to take six months.

The company said it also adopted a stockholder rights plan, in effect until Jan. 14, 2011, to reduce the likelihood that a potential acquirer would gain control of Lenox without paying a premium for the company's shares.

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