Ramius Capital sells shares of Phoenix Technologies

By Lisa Kerner

Charlotte, N.C., April 29 - Investors led by Ramius Capital Group, LLC sold 318,979 shares of Phoenix Technologies Ltd. between April 17 and April 28 priced from $12.23 to $15.21 per share, it was reported in a schedule 13D filing with the Securities and Exchange Commission.

The investors beneficially own 2,878,862 shares, or 10.8%, of the Milpitas, Calif., computer software company.

It was previously reported that Ramius offered to acquire Phoenix Technologies for $5.25 cash per share in January, up from its earlier offer of $5.05 per share.

Ramius is a New York-based investment adviser that manages assets of about $7.9 billion.

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