Monday, April 09, 2007

Shamrock Activist Raises Stake in TNS (TNS) to 7.63%

In an amended 13D filing after the close Thursday on TNS Inc. (NYSE: TNS), Shamrock Activist Value Fund disclosed a 7.63% stake (1.84 million shares) in the company. This is up from the 6.05% stake the firm disclosed in a March 13D filing.

One of the things Shamrock was calling for was a cash distribution, which the company announced recently. TNS completed a $240 million recapitalization declared a special dividend of $4 per common share, or approximately $98.4 million, payable on April 12, 2007 to shareholders of record on April 9, 2007.

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