Friday, July 13, 2007

Loeb Partners Wants Mercer Insurance (MIGP) Sold or Liquidated

In a 13D filing on Mercer Insurance Group Inc. (Nasdaq: MIGP), Loeb Partners disclosed a 5.17% stake (339,326 shares) in the company.

In the filing, the firm said it is their firm belief that the company has only one viable option, a sale or complete liquidation on a timely and cost-effective basis. The firm said it may engage in talks with the company or seek Board representation if this option is not pursued vigorously.

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Blogger Off The Beaten Path Investments Forum said...

don't see kind of retraction very often

NEW YORK, July 13 (Reuters) - Loeb Partners Corp on Friday retracted a statement made in a filing earlier in the day stating that Mercer Insurance Group
should either sell itself or completely liquidate.

"The statement was inadvertent and does not reflect Loeb's current position regarding the company," Loeb said in its latest filing.

Loeb said it regretted the error and had refiled a document with the U.S. Securities and Exchange Commission to reflect its proper intentions.

4:23 PM  

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