Gamco planning spinoff
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- November
- 5
Gamco Investors Inc., Mario J. Gabelli’s Rye-based money-management company, wants shareholders to approve the spinoff of shares of Gabelli Advisors Inc., an investment manager for funds with assets of $443.1 million.
The company said in a proxy filed with the U.S. Securities and Exchange Commission the shares it owns in Gabelli Advisers would be distributed to its shareholders.
Gabelli Advisers would be re-named Teton Advisors Inc. or would go by another name that would not include “Gabelli.�
The company said its board of directors has not determined the timing of the spinoff and could abandon it at any time.
Gabelli Advisers is the investment manager for the Gamco Westwood Funds.
This entry was posted
on Monday, November 5th, 2007 at 7:04 pm by Allan Drury.
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Category: Corporate doings
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