Friday, December 14, 2007

Ramius Capital Accumulates 7.4% Stake in Federal Signal (FSS)

In a 13D filing this morning on Federal Signal Corp. (NYSE: FSS), Ramius Capital disclosed a 7.4% stake (3,549,068 shares) in the company.

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.
Federal Signal makes products and integrated solutions for municipal, governmental, industrial and airport customers.
On Wednesday (12/12), Federal Signal CEO and President Robert D. Welding resigned from the company.
Federal Signal has significantly underperformed the market and is down 29% year-to-date.

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