Avocent investor Gamco buys 2.71 million shares ahead of Emerson deal

By Lisa Kerner

Charlotte, N.C., Nov. 13 - Gamco Asset Management Inc. bought 2,707,010 shares of Avocent Corp. between Oct. 6 and Nov. 12 for an initial stake in the company of 6.07%.

The shares were priced from $24.77 to $24.96 each, according to a schedule 13D filed on Friday with the Securities and Exchange Commission.

As previously reported, Emerson Electric Co. extended its $25.00-per-share tender offer for Avocent's outstanding shares of common stock to 5 p.m. ET on Nov. 30 from Nov. 12.

Emerson agreed to acquire Avocent in an all-cash deal valued at approximately $1.2 billion.

Avocent designs, manufactures, licenses and sells software and hardware products and technologies that provide connectivity and centralized management of IT. The company is located in Huntsville, Ala.

Emerson, based in St. Louis, provides network power, process management, industrial automation and climate technologies solutions.

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