Gabelli, Gamco build 5.93% stake in Sepracor ahead of Dainippon merger

By Angela McDaniels

Tacoma, Wash., Oct. 7 - Sepracor Inc. investors led by Gabelli Funds, LLC and Gamco Asset Management Inc. purchased a net 6,521,942 shares of the company's stock between Sept. 3 and Oct. 6.

The shares were priced from $22.80 to $22.94 each, according to a schedule 13D filing with the Securities and Exchange Commission.

The investors beneficially own 6,576,433 shares, or 5.93%, of the company's stock.

As previously reported, Sepracor agreed to be acquired by Dainippon Sumitomo Pharma Co., Ltd., an Osaka, Japan-based pharmaceutical company, for $23.00 per share. The merger is expected to close in the fourth quarter.

Sepracor is a specialty pharmaceutical company based in Marlborough, Mass.

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