E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 7/10/2008 in the Prospect News Special Situations Daily.

Serengeti seeks to influence Shuffle Master, ups stake to 6.7%

By Lisa Kerner

Charlotte, N.C., July 10 - Shuffle Master, Inc. investors led by Serengeti Asset Management LP and J.L. Serengeti Management LLC said they expect to engage in further discussions with the company's management and certain board members regarding the dilutive impact of the company's proposed public offering of common stock on Shuffle Master's existing stockholders.

In the past, Serengeti recommended that Shuffle Master solicit director nominees from significant stockholders, according to a schedule 13D filed with the Securities and Exchange Commission.

The investors beneficially own 2,350,000 shares, or 6.7%, of Shuffle Master.

Between May 27 and July 9, Serengeti reported the purchase of 850,005 Shuffle Master shares priced from $4.30 to $5.49 each.

Shuffle Master is a Las Vegas-based gaming supply company.


© 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.