Blue Harbour Makes Good on Reader's Digest (RDA) Investment

In an amended 13D filing on Reader's Digest Association Inc. (NYSE: RDA) after the close Friday, Blue Harbour Group, LP disclosed they sold their entire 6.6 million share stake in the company. A majority of the sales occurred after Reader's Digest announced a deal to be acquired by Ripplewood Holdings for $17 per share.

The position appears to have turned out a winner for Blue Harbour, which disclosed in July that the cost of their 6,435,400 share stake was $99,359,060, or about $15.44 per share.