Adaptec shareholder Steel Partners buys more than 1.55 million shares

By Lisa Kerner

Charlotte, N.C., Sept. 9 - Steel Partners, II LP bought 1,557,663 shares of Adaptec, Inc. on Aug. 6 through Sept. 8 priced from $2.8164 to $3.035 each.

The transactions were reported in a schedule 13D/A filed on Sept. 9 with the Securities and Exchange Commission.

Between Aug. 3 and Aug. 5, Steel Partners bought 1,465,800 Adaptec shares for a 9.7% stake, a prior SEC filing said.

Steel Partners beneficially owns 13,160,669 shares, or 11.0%, of the Milpitas, Calif., data storage company.

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