In a 13D filing on WCI Communities, Inc. (WCI), SAC Capital disclosed a 9.5% stake (4 million shares). This is up from the 3.25 million shares stake the firm disclosed for the quarter ended Dec 31, 2006. SAC changed its filing status from 13G (passive) to 13D reflecting its more activist role in the investment.
In the filing, SAC said:
The Reporting Persons have reviewed public information regarding the potential proxy contest and unsolicited tender offer by Icahn Partners LP and others, and regarding the Issuer’s process of reviewing financial, strategic and operational alternatives (including a potential sale of the Issuer). The Reporting Persons intend to review their investment in the Issuer on a continuing basis and may engage in discussions with management, the Board of Directors, other shareholders of the Issuer and other relevant parties concerning these matters and potentially concerning other matters with respect to the Reporting Persons’ investment in the Common Stock, including, without limitation, the business, operations, governance, management, strategy and future plans of the Issuer.
WCI Communities is currently reviewing strategic options and Carl Ichan recently announced an unsolicited tender offer to acquire any and all of WCI's outstanding common stock for $22.00 per share.