Business in the Burbs

Gamco to spin off advisory unit

February

Gamco Investors Inc. said that it is pushing ahead with its plans to spin off Teton Advisors Inc., the adviser to the Gamco Westwood family of funds. Gamco, a Rye-based money manager founded by investor Mario Gabelli, said that each of its shareholders will receive 14.930 shares of Teton for each 1,000 shares of Gamco that they own under the spinoff plan. Gamco said that it believes that Teton can operate more effectively as a separate company.

This entry was posted on Wednesday, February 25th, 2009 at 2:04 pm by Jay Loomis.
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