In a 13D filing on TNS, Inc. (NYSE:TNS), Endowment Capital Group/Philip C. Timon disclosed a 14.7% stake (3.52 million shares) in the company. This is unchanged from the stake the firm disclosed in TNS for the quarter ended September 30, 2006.
The firm said it is continuing to analyze the recently proposed management buyout transaction and is evaluating a number of alternatives, including potential discussions of adequacy of the price as well as possibly joining the group of buyers.
Recently, founder and former CEO John J. McDonnell, Jr. made an offer to take the company private at $20 per share, through a new acquisition vehicle, Dunluce Acquisition Corporation.
TNS 1-yr chart