UBS AG Raises Stake in ADVO (AD) to 5.6%
In a 13D filing on ADVO Inc. (NYSE: AD) after the close Friday, UBS AG disclosed a 5.57% stake (1.77 million shares) in the company. This is up from the 618K stake the firm disclosed in a 13F filing for the quarter ended September 30, 2006.
The firm said the stake was acquired for investment and proprietary trading purposes and not with the purpose or effect of changing or influencing control of the company.
In August, Valassis Communications, Inc. (NYSE: VCI) sued ADVO to rescind its $1.3 billion merger agreement with the company based on fraud and material adverse changes, alleging that ADVO management materially misrepresented the financial health of the company and failed to reveal internal control deficiencies.
The firm said the stake was acquired for investment and proprietary trading purposes and not with the purpose or effect of changing or influencing control of the company.
In August, Valassis Communications, Inc. (NYSE: VCI) sued ADVO to rescind its $1.3 billion merger agreement with the company based on fraud and material adverse changes, alleging that ADVO management materially misrepresented the financial health of the company and failed to reveal internal control deficiencies.
posted by Lon at 1:43 PM
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