Gamco, Gabelli buy 8.16% stake in Adams Respiratory

By Lisa Kerner

Charlotte, N.C., Jan. 22 - Adams Respiratory Therapeutics Inc. investors led by Gabelli Funds, LLC and Gamco Asset Management Inc. bought 2,935,552 shares of the company's stock for an initial stake of 8.16%.

The shares were purchased from Dec. 10 to Jan. 18 priced from $59.02 to $59.88 each, according to a schedule 13D filing with the Securities and Exchange Commission.

As previously reported, Reckitt Benckiser Group plc's subsidiary, Twickenham Inc., began a $60.00-per-share tender offer for all of the outstanding shares of Adams Respiratory.

The offer, valued at some $2.3 billion, ends Jan. 23.

Reckitt Benckiser is a household cleaning, health and personal care company based in Slough, England. The company's brands include Lysol, Electrasol, Woolite, Veet and Gaviscon.

Adams Respiratory is a Chester, N.J., specialty pharmaceutical company.

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