Griffon Corp: Clinton Group Raises Stake

In a 13D filing on Griffon Corp. (GFF) after the close Thursday, Clinton Group disclosed a 6.1% stake (1.84 million shares) in the company. This is up from the 5.2% stake (1.54 million shares) the firm disclosed in the original 13D filing.

In the original filing the firm said it desires to work constructively with Griffon's management to continue to evaluate multiple strategic alternatives for the Issuer, including, but not limited to, a tax-free spin-off or sale to strategic acquirors of one or more of the company's subsidiaries, or a going-private transaction. Clinton Group said, "Our analysis ultimately suggests that fair value for Griffon's stock approximates $31-$35, prior to certain adjustments..."