Thursday, September 20, 2007

ValueAct Capital Bottom-Fishes Omnicare (OCR)

In a 13D filing after the close on Omnicare, Inc. (NYSE: OCR), ValueAct Capital disclosed a 6.5% stake (7,942,925 shares) in the company. This up from the 1,288,800 share stake the firm held at the quarter ended June 30, 2007.

In a pretty standard disclosure, the firm did not make any direct requests on the company, but said they will monitor their investment and may enter discussions with management, the Board of Directors or others.

The firm paid on average about $27 per share for the stock. The current stock price is $30.24.

Shares of OCR are near a 52-week low ($29.11)

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Blogger David said...

How on Earth did they pay $27/share if the low was 29.11?

9:17 AM  
Blogger Lon said...

Yeah I noticed that - but that is what the filing says.

ValueAct Master Fund owns 6,763,563 shares and ValueAct Master Fund III owns 1,179,362 shares. Total 7,942,925 shares.

"The source of funds used for the purchase of the Issuer's securities was the working capital of ValueAct Master Fund and ValueAct Master Fund III. The aggregate funds used by these Reporting Persons to make the purchases were $180,414,414.26 and $34,538,657.30."

9:34 AM  

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