Marcato Capital Managment & Oskie Capital File 13D on Lear
From market folly February 11, 2013 - 8:00am
Mick McGuire's hedge fund firm Marcato Capital Management just filed a 13D with the SEC regarding shares of Lear Corp (LEA). Per the filing, McGuire's firm now owns 5.2% of the company with 5,034,986 shares (inclusive of common stock and options/swaps, as detailed below).
This was a joint filing along with David Markowitz's and Clive Rowe's hedge fund Oskie Capital, forming a filing 'group'. Oskie owns 0.4% of Lear shares.
This is a brand new position for McGuire's fund, who are known for their activist investment strategy. The filing was disclosed due to portfolio activity on February 6th.
Per the fine print of the filing, the hedge funds have recently discussed the capital allocation practices of the company. They also plan to nominate director candidates. The company recently announced that it was accelerating its share repurchase plan...
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