Gabelli, Gamco invest in TB Woods

By Lisa Kerner

Charlotte, N.C., March 15 - TB Woods Corp. investors led by Gabelli Funds, LLC and Gamco Asset Management Inc. increased their stake in the company with the purchase of 209,232 shares for a total of approximately $5,479,358.

The shares were purchased between Feb. 20 and March 8 and priced from $24.54 to $24.75.

TB Woods, a Chambersburg, Pa., manufacturer of transmission products, entered into a definitive agreement on Feb. 20 to be acquired by Altra Holdings, Inc. for $24.80 per share in a cash tender offer expected to close in April.

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