Gamco-led investors up stake in Midland

By Lisa Kerner

Charlotte, N.C., April 1 - Investors led by Gabelli Funds, LLC and Gamco Asset Management Inc. bought 245,131 shares of Midland Co.'s stock, increasing their stake in the company to 6.28% from 5.1%.

The shares were purchased between Jan. 31 and March 28 priced from $64.00 to $64.88 each, according to a schedule 13D filing with the Securities and Exchange Commission.

Gabelli, Gamco and the reporting persons own 1,222,831 shares of the Cincinnati-based specialty insurance products company.

On Oct. 17, Midland announced it had agreed to be acquired by Munich Re for $65.00 cash per share.

It was previously reported that Munich Re shareholders approved the merger on March 24. The transaction is expected to close on or about April 3, a prior news release stated.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.