WAC Based on the record, Sid Bass must have average of $7.45/share for his 13.4% (5.215M shares) stake in this company.
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Texas billionaire Sid Bass acquired an 8.5 percent stake in Warnaco Group last month, amounting to 4,524,900 shares. Based on Warnaco's closing stock price April 5 of 10 11/16, Bass paid about $48.4 million for his stake. Warnaco's largest institutional shareholder is Fidelity, which owns 13.2 percent. Warnaco's stock, which has slid dramatically in the past year-and-a-half, hit a new 52-week low on Monday, when it closed at 8 1/4. Bass, with a net worth of $3.5 billion, was ranked 63rd on the Forbes list of "400 Richest People in America" last year.
NEW YORK -- Texas billionaire Sid Bass has acquired another 2.5 million shares in Warnaco, hiking his stake to 13.4 percent from 8.5 percent, according to a filing with the Securities and Exchange Commission.
I believe the second purchase was around $1 1/2. |
