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Gabelli, Gamco report 21.89% stake in Sequa
By Jennifer Chiou
New York, Oct. 4 - Sequa Corp. investors led by Gabelli Funds, LLC and Gamco Asset Management Inc. bumped their ownership of the company up to 1,784,408 shares, or 21.89%, of the outstanding stock, according to a schedule 13D filing with the Securities and Exchange Commission.
On July 24, the companies said that they owned 1,749,036 shares, or 21.57%, of the New York-based diversified industrial company.
On June 21, the investors reported a 29.8% ownership, and on June 7, Gamco and Gabelli had a 28.65% stake in the company. In late May, the investors owned 30.37% of Sequa, or 996,627 shares.
As previously reported, Sequa agreed to be acquired by the Carlyle Group, a private equity firm, for $175 per share in a transaction valued at $2.7 billion.
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