Shamrock Activist Value Fund Shows 5.8% Stake in Elizabeth Arden (RDEN)
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In a 13D filing after the close on Elizabeth Arden, Inc. (Nasdaq: RDEN), Shamrock Activist Value Fund disclosed a 5.83% stake (1,680,000 shares) in the company. The firm did not show a stake in Elizabeth Arden at the quarter ended June 30, 2008.
The average price paid by Shamrock is about $18.50, which is below the current market price of Elizabeth Arden which is $15.68.
Shamrock said it acquired the shares based on its belief that the Common Shares represent an attractive investment opportunity. The firm has no current plans or proposals with respect to the Company or its securities of the types enumerated in paragraphs (a) through (j) of this Item 4 to the form Schedule 13D promulgated under the Act.
The average price paid by Shamrock is about $18.50, which is below the current market price of Elizabeth Arden which is $15.68.
Shamrock said it acquired the shares based on its belief that the Common Shares represent an attractive investment opportunity. The firm has no current plans or proposals with respect to the Company or its securities of the types enumerated in paragraphs (a) through (j) of this Item 4 to the form Schedule 13D promulgated under the Act.
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