Parche, Starboard buy stake in Federal Signal

By Lisa Kerner

Charlotte, N.C., Dec. 14 - Investors led by Parche, LLC and Starboard Value and Opportunity Master Fund Ltd. bought 3,549,068 shares of Federal Signal Corp. for a 7.4% stake in the company.

The shares were acquired between Oct. 18 and Dec. 12, priced from $11.17 to $15.07 each, according to a schedule 13D filing with the Securities and Exchange Commission.

Federal Signal is an Oak Brook, Il., manufacturer of interoperable communications platforms, safety and security systems, and fire apparatus.

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