Tuesday, December 26, 2006

Shamrock Activist Value Fund Discloses 6.67% Stake in ProQuest (PQE)

In an original 13D filing after the close on ProQuest Company (NYSE: PQE), Shamrock Activist Value Fund disclosed a 6.67% stake (1.99 million shares) in the company.

The hedge fund said it has no current plans or proposals with respect to the Company or its securities of the types enumerated in paragraphs (a) through (j) of this Item 4 to the form Schedule 13D promulgated under the Act.

Shares of ProQuest are trading near a 52-week low and recently suffered heavy losses after announcing an ongoing accounting review will result in the restatement of previously reported earnings for fiscal years 2001 through 2004 and for the first three quarters of 2005. The company sees earnings before interest and taxes significantly lower for each year of the restatement.

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