Investment group doubles Shermag holdings

Knell, Michael J.
November 2006
Furniture/Today;11/27/2006, Vol. 31 Issue 12, p10
Trade Publication
The article reports the acquisition of over one million shares of Shermag, a furniture manufacturer and importer, by an investment holding company Clarke Inc. The purchase has increased the Clarke's holdings by 2.1 million or about 19.49% of Shermag's outstanding common shares. According to company sources, the purchase was made for investment purposes. Melinda Lee, vice president of investments said that they are looking for troubled companies that have a potential.


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