Group May Consider Actions To Maximize Brightpoint Value
biz.yahoo.com
WASHINGTON -(Dow Jones)- A group including Diamond Investments LLC reported a 5% stake in Brightpoint Inc. (CELL), according to a Schedule 13D filed Thursday with the Securities and Exchange Commission.
The group beneficially owns 400,424 common shares. It purchased 400,423 shares in the open market between Feb. 11 and Aug. 6 for prices from $1.24 to $ 5.88 a share.
According to the filing, the group may hold discussions with the management and members of the board of Brightpoint concerning the business, operations and future plans of the company.
The group also said it may consider other actions to maximize shareholder value, including proposing an extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving Brightpoint or any of its subsidiaries and proposing change in the board or management of Brightpoint.
On Wednesday, Brightpoint hired Chanin Capital Partners, an investment bank specializing in corporate restructurings and mergers and acquisitions, to assist Brightpoint with certain financial matters.
Brightpoint, Indianapolis, provides outsourced services to the global wireless telecom and data industries. |
