In an amended 13D filing after the close on Point.360 (NASDAQ:PTSX), DG FastChannel (NASDAQ:DGIT) disclosed it raised its stake to 14.8% (1.44 million shares) from the 11.4% stake (1.1 million shares) the company disclosed on 12/28.
DG FastChannel said on December 28 and 29, 2006 they acquired 334,300 shares in open market transactions at prices per share ranging from $3.21 to $3.57. The company acquired their original 1,108,674 shares from Midwood Capital at $3.25 per share.
In the Purpose of Transaction section of the filing, DG FastChannel said it may in the future seek the views of, hold active discussions with and respond to inquiries from members of the board of directors, officers or representatives of the Company and other persons regarding the Company’s affairs and strategic alternatives, and the interests of other stockholders in participating in such alternatives.
NOTE: As noted in our Rumor Pipeline blog, it looks like DG FastChannel is targeting Point.360 for a takeover.