Gamco investors up stake in Pioneer Cos. to 8.4%

By Lisa Kerner

Charlotte, N.C., Aug. 23 - Pioneer Cos., Inc. investors led by Gamco Asset Management Inc. and Gabelli Funds, LLC bought 230,184 shares of the company's stock between July 20 and Aug. 22, priced from $34.63 to $34.87 per share.

The reporting persons beneficially own 994,551 shares, or 8.40%, of the company's outstanding stock, according to a schedule 13D filing with the Securities and Exchange Commission.

On July 19, Gamco and Gabelli reported buying 140,466 shares of Pioneer stock between July 5 and July 17, priced from $34.33 to $34.73 each. At that time, the investors owned 764,367 shares, or 6.46%, of the company.

It was previously reported that Olin Corp. entered into an agreement to acquire Pioneer for $35.00 cash per share. Pioneer stockholders are scheduled to vote on the merger at a special meeting on Aug. 28. Olin, located in Clayton, Mo., manufactures chlor alkali, metal and ammunition products for commercial and industrial markets.

Houston-based Pioneer manufactures chlorine, caustic soda, bleach, hydrochloric acid and related products.

© 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.