Ramius drops ownership interest in Phoenix Technologies to less than 5%

By Lisa Kerner

Charlotte, N.C., June 10 - Affiliates of Ramius Capital Group, LLC sold 457,300 shares of Phoenix Technologies Ltd. between June 5 and June 9, reducing their ownership interest to 4.9% from 6.6%.

The shares were priced from $10.84 to $11.33 each, it was reported in a schedule 13D filing with the Securities and Exchange Commission.

According to a prior SEC filing, Ramius-led investors sold 362,003 shares of Phoenix Technologies between May 30 and June 4, priced from $10.11 to $10.82 each.

The investors beneficially own 1,347,551 shares 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.

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