Tuesday, October 24, 2006

Activist Hedge Fund Jana Partners LLC Discloses Passive Stake in American Italian Pasta (PLB)

In a 13G filing after the close on American Italian Pasta Co. (NYSE: PLB), Jana Partners LLC disclosed an 6% stake (1.11 million shares) in the company. This is up from the 381K share stake the firm disclosed in a quarterly filing with the SEC.

Founded in 1988 and based in Kansas City, Missouri, American Italian Pasta Company is the largest producer and marketer of dry pasta in North America.

Jana Partners LLC., a $4 billion hedge fund run by Barry Rosenstein, is best known for activism in Kerr-McGee (NYSE: KMG), Time Warner Inc. (NYSE: TWX) and Houston Exploration Co. (NYSE: THX), among others.

Shares of American Italian Pasta are up 3.7% to $7.32 in mid-day action Tuesday.

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