Tuesday, May 29, 2007

Breeden Capital Accumulates 9.71% Stake in ACCO Brands (ABD)

In a 13D filing on ACCO Brands Corporation (NYSE: ABD), Breeden Capital disclosed a 9.71% stake (5.24 million shares). This is up from the 392,500 share stake the firm disclosed at the quarter ended March 31, 2007.

The firm said it intends to continuously review the investment but said at this time they do not have any present plans or proposals that relate to or would result in any of the actions specified in clauses (a) through (j) of the instructions to Item 4 of Schedule 13D.

Breeden Capital, run by former SEC-chief Richard Breeden, recently targeted Applebee's (Nasdaq: APPB), winning a board seat and pushing for a strategic review, which the company said has yielded several non-binding, preliminary proposals to acquire the company.

ACCO Brands is a leader in select categories of branded office products. The company's brands include Day-Timer, Swingline, Kensington, Quartet, GBC, Rexel, and Wilson Jones, among others.

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