North Pittsburgh shareholders led by Bulldog, Goldstein, sell shares

By Lisa Kerner

Charlotte, N.C., July 13 - A group of North Pittsburgh Systems, Inc. shareholders led by Bulldog Investors, Lawrence J. Goldstein, Santa Monica Partners LP and Monarch Activist Partners LP sold 291,700 shares of the company's stock between June 4 and July 11, priced from $19.00 to $24.18 per share.

The reporting persons beneficially own 804,844 shares, or 5.36%, of the company, according to a schedule 13D filing with the Securities and Exchange Commission.

In a March 23 SEC filing, Goldstein urged North Pittsburgh Systems to sell, foreseeing a decline in the company's value.

As previously reported, on July 2 North Pittsburgh Systems agreed to be acquired by Consolidated Communications Holdings Inc. for $25.00 per share in a taxable cash and stock transaction with a total consideration of $375.1 million.

Consolidated Communications is a Mattoon, Ill.-based rural local exchange company.

North Pittsburgh is a telecommunications provider based in Gibsonia, Pa.

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