Ramius-led investors sell 400,060 shares of Federal Signal

By Lisa Kerner

Charlotte, N.C., July 30 - Investors led by Ramius LLC, Parche, LLC and Starboard Value and Opportunity Master Fund Ltd. sold 400,060 shares of Federal Signal Corp., decreasing their interest in the company to 6.2%.

It was reported in a schedule 13D filed with the Securities and Exchange Commission that the shares were sold between June 19 and July 30 priced from $11.91 to $14.64 each.

In March, Federal Signal agreed to appoint Dennis J. Martin to its board and to nominate him for election at its annual meeting.

RCG Starboard Advisors, LLC; funds managed by RCG Starboard; and some of its affiliates, including Ramius LLC, were also parties to the agreement.

Martin retired in 2005 as chairman and chief executive officer of General Binding Corp. and now works as an independent business adviser.

Federal Signal is an Oak Brook, Ill.-based company focused on security technology and industrial tooling.

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