Friday, March 30, 2007

MLF Investments Raises Stake in La-Z-Boy (LZB) to 7%

In an amended 13D filing on La-Z-Boy Inc. (NYSE: LZB), MLF Investments disclosed a 7% stake (3.6 million shares) in the company. This is up from the 5.9% stake the firm disclosed in their original 13D filing in February.

The firm said the aggregate cost of is 3,618,218 shares is approximately $45,076,717 (about $12.46/share - stock currently at $12.72).

In the original filing, MLF Investments said they support the company's management and their plans and programs of focusing on the La-Z-Boy brand, improving manufacturing efficiency and maximizing the potential of its distribution network, the La-Z-Boy Furniture Galleries. The firm also said it is their intention to offer to help the company strategically if such opportunities present themselves.

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