Thursday, July 20, 2006

SPO Partners Raises Stake in Lamar Advertising (LAMR) to 9.42%

In an amended 13D filing with the SEC on Lamar Advertising (Nasdaq: LAMR), SPO Partners disclosed a 9.42% stake (8.25 million shares) in the company, which is up from the 7.9% stake (6.9 million shares) the firm disclosed in a May 13D filing.

In 'Purpose of Transaction' section of the original 13D filing (August 2005) the firm issued a somewhat general statement on its intent: "The Reporting Persons have acquired the Shares reported herein for investment purposes. Consistent with such purpose, the Reporting Persons have had, and may have in the future, discussions with management of the Issuer and may make suggestions concerning the Issuer's operations, prospects, business and financial strategies, assets and liabilities, business and financing alternatives and such other matters as the Reporting Persons may deem relevant to their investments in the Shares and other securities of the Issuer."


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