Monday, September 11, 2006

Gabelli Discloses 8.63% Stake in Giant Industries (GI)

In a 13D filing on Giant Industries Inc. (NYSE: GI) after the close Friday, Mario Gabelli's GAMCO and related funds disclosed an 8.63% stake (1.26 million shares) in the company.

In the Purpose of Transaction section of the filing Gabelli noted:

"As a result of these analytical activities one or more of the Reporting Persons may issue analysts reports, participate in interviews or hold discussions with third parties or with management in which the Reporting Person may suggest or take a position with respect to potential changes in the operations, management or capital structure of such companies as a means of enhancing shareholder values. Such suggestions or positions may relate to one or more of the transactions specified in clauses (a) through (j) of Item 4 of Schedule 13D including, without limitation, such matters as disposing of one or more businesses, selling the company or acquiring another company or business, changing operating or marketing strategies, adopting or not adopting, certain types of anti-takeover measures and restructuring the company's capitalization or dividend policy."

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