Pennant Capital sells more than 1.23 million shares of Greenfield Online

By Lisa Kerner

Charlotte, N.C., Sept. 3 - A group of Greenfield Online, Inc. investors led by Pennant Capital Management, LLC sold 1,239,200 shares on Aug. 29 and Sept. 2 for $17.31 each, according to an amended schedule 13D filing with the Securities and Exchange Commission.

With the sale, Pennant's stake drops to 5.2% from the 9.95% reported on July 23.

The investors beneficially own 1,380,800 shares of the company's stock.

Greenfield, a Wilton, Conn., internet survey and comparison shopping solutions company, recently terminated its merger agreement with affiliates of Quadrangle Group and agreed to be acquired by Microsoft Corp. in a cash tender offer valued at approximately $486 million, or $17.50 per share.

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