Ferro shareholder Gamco buys 1.2 million shares for 11.5% ownership

By Lisa Kerner

Charlotte, N.C., Nov. 4 - Gamco Asset Management Inc. bought 1,200,500 shares of Ferro Corp. on Nov. 2 and Nov. 3 priced at $5.60 and $5.55 each, respectively, according to a schedule 13D/A filed with the Securities and Exchange Commission on Wednesday.

On Monday, Gamco said it will propose that institutional investors be permitted to own Ferro shares without limitation and that Ferro should not adopt any poison pill without shareholder approval, a prior SEC filing said.

Gamco beneficially owns 9,274,869, or 11.5%, of the Cleveland-based company's outstanding shares.

Ferro is a supplier of specialty materials and chemicals for makers of electronics, solar energy, telecom, pharmaceutical, building, automotive and other household and industrial products.

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