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Gabelli buys shares of Lifecore Biomedical
By Lisa Kerner
Charlotte, N.C., Jan. 24 - Investors led by Gabelli Funds, LLC bought 78,095 shares of Lifecore Biomedical, Inc. priced from $16.80 to $17.05.
The shares were purchased on Jan. 17 and Jan. 18, according to a schedule 13D filing with the Securities and Exchange Commission.
The investors beneficially own 1,807,153 shares, or 13.4% of Lifecore's outstanding stock.
It was previously reported that Lifecore agreed to be acquired by affiliates of Warburg Pincus LLC through a $17.00-per-share tender offer in a going-private deal valued at some $239 million.
Lifecore expects the transaction to close by the end of the first quarter.
Warburg Pincus is a private equity investor based in New York.
Lifecore develops biomaterials and medical devices for use in various surgical markets through its dental division and hyaluronan division. The company is based in Chaska, Minn.
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