ValueAct cuts stake in Omnicare

By Lisa Kerner

Charlotte, N.C., Aug. 13 - ValueAct Capital Master Fund, LP sold 1,922,800 shares of Omnicare, Inc., reducing its interest in the company to 8.3%.

According to a schedule 13D filed with the Securities and Exchange Commission, the shares were sold between Aug. 4 and Aug. 8 at prices from $29.52 to $30.34 each.

ValueAct beneficially owns 9,859,866 shares of the Covington, Ky., geriatric pharmaceutical services company.

In February, it was reported that ValueAct's Jeffrey W. Ubben would serve on Omnicare's board of directors.

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