Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Mario Gabelli Holds 6.66% of Pre-Merger Mac-Gray

Mario Gabelli, Mac-Gray: According to a 13D filing, Mario Gabelli, the manager of Gamco Investors, now owns 980,223 shares of Mac-Gray Corporation (NYSE:TUC). The new position represents 6.66% of the company. A couple of days ago, Moab Capital disclosed its intention to vote in favor of the company’s merger proposal; Mac-Gray is set to be acquired by CSC Fenway.

Mario Gabelli

According to the definitive agreement and plan of the merger between Mac-Gray and CSC, the latter will purchase outstanding common stock of Mac-Gray for $21.15 in cash, which was at a 42% premium above the stock’s closing price on October 14. In this way, the value of the deal amounts to some $524 million. The merger was approved unanimously by Mac-Gray’s Board of Directors.

Earlier today, Mario Gabelli disclosed holding a 5% stake in Edgen Group Inc (NYSE:EDG).

Disclosure: none

Recommended Reading:

Buffett’s Favorite Metric Shows the Stock Market is Not Cheap

Make That 2 Biotech Stocks Today: Sabby Management Reveals It Bought Advaxis

Is Icahn’s Case for Apple at $1,250 Flawed?


Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!