Samson Holding to sell part of stake in Furniture Brands
July 23, 2013-- Furniture Today,
ST. LOUIS — Case goods manufacturer Samson Holding plans to sell 267,355 shares in Furniture Brands International, a move that would drop its ownership stake in the company to less than 10%, according to a 13D filing by Furniture Brands.
Prior to the sale, the company owned 1,031,624 shares, or a 12.8% stake. On July 17, it said it planned to sell 33,800 of these shares at $4.033 per share. This sale, to be settled on Monday, effectively lowered its ownership position to 12.4%.
A sale of 267,355 shares would drop its total number of shares to 764,269, giving it a 9.49% ownership stake in the company.
The filing said that Samson officials were considering selling the remaining shares, but made no clear indication of when this might occur. Samson officials were not immediately available for comment.
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