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Steel Partners continues to build stake in Rowan
By Lisa Kerner
Charlotte, N.C., Aug. 20 - Rowan Cos., Inc. investor Steel Partners II, LP increased its stake in the company to 6.6%, or a total of 7,281,808 shares, according to an SC 13D filed with the Securities and Exchange Commission.
From July 23 to Aug. 16, Steel Partners bought 1,159,981 shares at prices from $35.3226 to $45.8297. The fund manager has now paid $279,588,514 million for its holding in the Houston-based contract drilling services company.
On July 5, Steel Partners reported a 5.5% stake in the company with ownership of 6,121,827 shares, a prior SEC filing stated.
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