Thursday, September 20, 2007

Lichtenstein's Steel Partners II Boosts Stake in Conseco (CNO) to 5.9%

In a 13D filing after the close on Conseco Inc. (NYSE: CNO), Warren Lichtenstein's Steel Partners II disclosed a 5.9% stake (11,143,501 shares, including 40K short put options) in the company. The firm held 5,303,332 shares at the quarter ended June 30, 2007.

The aggregate purchase price of the 11,103,501 shares (excluding 40Kshort put options) was approximately $193,467,190.

In a pretty standard disclosure, the firm did not make any direct requests on the company, but said they will monitor their investment and said they plan to engage in discussions with management and the Board of Directors of the Issuer concerning the business, operations and future plans.

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