Millenco Disclosed a Number of New 5%+ Positions: EAR, VSTA, ORCH

Millenco disclosed a number of new 5%+ positions in various 13D filings after the close yesterday.
HearUSA Inc. (AMEX: EAR) 5.2% (1,625,343 shares), up from 1,060,235 at 12/31/06
VistaCare Inc. (Nasdaq: VSTA) 7.1% (1,194,092), up from 513,245 at 12/31/06

Orchid Cellmark Inc. (Nasdaq: ORCH) 7.2% (2,108,769 shares), no stake at 12/31/06

The firm did not disclosed an plans related to issues, but reserved the right to raise or lower their positions and communicate with third parties or with management of the various companies.

Millenco Raises Stake in ArQule (ARQL) to 6.3%

In a 13D filing Friday afternoon on ArQule Inc. (Nasdaq: ARQL), Millenco disclosed a 6.3% stake (2,250,324 shares) in the company. This is up from the 1,359,524 share stake the firm held for the quarter ended December 31, 2006.

In a pretty standard disclosure, Millenco said from time to time they may hold discussions with third parties or with management with respect to potential changes in the operations, management or capital structure of such companies as a means of enhancing shareholder value. The firm does not have any present plans or proposals that relate to or would result in any of the actions required to be described in Item 4 of Schedule 13D.

Lone Star Steakhouse (STAR) Receives Slightly Increased Offer

After the close yesterday, Lone Star Steakhouse & Saloon, Inc. (Nasdaq: STAR) said its previously announced merger agreement with affiliates of Lone Star Funds, a Dallas-based private equity firm, has been increased from $27.10 to $27.35 per share.

The Company also said it pushed off the meeting of shareholders to vote on the proposed merger from November 30th to December 12.

Based on the original offer, a number of dissident shareholders said that they planned to vote against the deal, saying the price undervalued the restaurant chain. Those investors include Barington Capital, Deutsche Bank and Millenco LP. None of the opposing shareholders have yet to comment on the new offer.

In a recent letter to the company, one of those firms, Barington Capital said it has identified five parties that may be interested in purchasing the Company at a price higher than $27.10 per share if they are given the opportunity to review the Company’s non-public information without the requirement of having to first submit an acquisition proposal.