Monday, February 11, 2008

Richard Breeden's Next Target: Steris Corp. (STE)

In a 13D filing after the close Friday on Steris Corp. (NYSE: STE), Richard Breeden's Breeden Capital disclosed a 6.72% stake (4,259,973 shares) in the company. The firm held 2,621,973 shares of STE at the quarter ended September 30, 2007.

Breeden's firm noted that their firm has had conversation with the company's management and non-executive chairman and plan to continue to pursue ongoing discussions. The firm said discussions to date have related primarily to the business, financial performance, capital allocation, operations, strategic plans and disclosure practices of the Company. The firm said they may also communicate with the board of directors and/or other shareholders from time to time with respect to operational, strategic, financial or governance matters, or otherwise encourage actions that the Reporting Persons believe in their discretion will enhance shareholder value.

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