Loeb purchases 534,916 shares of Compudyne

By Lisa Kerner

Charlotte, N.C., Aug. 29 - Loeb Partners Corp. began building a stake in Compudyne Corp. with the purchase of 534,916 shares, or 6.34%, of the company's stock.

The shares were purchased between Aug. 7 and Aug. 27 and priced from $6.74 and $6.92 each, according to a schedule 13D filing with the Securities and Exchange Commission.

Loeb plans to review its investment on a continuing basis and may engage in discussions with management or the board of directors about Compudyne's business and future plans.

It was recently reported that the Annapolis, Md., security products company agreed to a go-private for $7 per share in a deal with an investor group that includes affiliates of the Gores Group, LLC and Stuart Mackiernan.

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