TLC Vision: Glenhill Advisors Cuts Stake By 2.8M Shares

In an SEC Form 4 filing yesterday on TLC Vision Corp. (Nasdaq: TLCV), large holder Glenhill Advisors disclosed they sold 2,835,614 shares at prices from $5.83-$5.87, bringing their stake to 6,778,486 shares.

Glenhill has been a activist in the stock, recently disclosing discussions with certain senior executives and members of the Board. Glenhill had voiced concerns regarding the performance of the Company.

This morning, TLC Vision announced preliminary results of its tender offer, saying they expect to purchase for cancellation 20 million common shares at a price of US$5.75 per share.