Monday, August 14, 2006

Jacuzzi Brands (JJZ) 23.6% Holder Southeastern Changes Filing Status to 13D, Would Like Flexibility to Discuss Alternatives with Management

In a 13D filing on Jacuzzi Brands Inc. (NYSE: JJZ) Southeastern Asset Management disclosed a 23.6% stake (18.3 million shares) in the company, which is the same stake they reported in a quarterly filling with regulators. The firm converted its 13G filing status to 13D, noting it may desire to become more active in discussions with the company's management.

Southeastern said it supports the Board's recent decision to name Alex P. Marini as CEO, and would like to work with Mr. Marini and the Board during the transition in management to assess the various long-term strategies available to maximize the company's value.

Southeastern also said it would like the flexibility to discuss with management and the board a variety of possible alternatives, Southeastern reserves its rights to engage in discussion of any of the possible actions described in Item 4 of Schedule 13D, as long as such actions are consistent with the terms of the Standstill Agreement dated as of December 5, 2002, as amended August 11, 2005, between the Issuer and Southeastern.


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