A long-term investor in Riverdale-based Acme Steel Co. announced Monday that it is interested in opening talks with Acme`s management.
Acme, the recent buyout target of financier Irwin Jacobs, said it does not know why Heine Securities Corp. filed with the Securities and Exchange Commission declaring its interest in talking to Acme management.
Heine Securities, a New Jersey-based investment advisory firm, has held an 8.1 percent stake in Acme since 1968, an Acme spokesman said. The SEC filing said that Heine`s shares are being held ”for investment purposes” but that the firm may talk with Acme`s management ”in light of current developments regarding the company.”
Last week, Jacobs offered to buy Acme for $23.50 a share, or $124.5 million. Acme rejected the proposal, and some analysts said they felt the offer was too low.
