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Activist Update: Ramius Capital with Actel Corp and Extreme Networks

|Includes:Actel Corp. (ACTL), EXTR

Earlier this month, Actel Corp. (NASDAQ: ACTL) and Ramius Capital revised last year’s settlement agreement with the same terms of three Ramius nominees on an eight person board. Ramius Capital Group currently holds 2,423,665 shares of Actel or 9.3% of shares outstanding.

Hedge Fund Solutions previously mentioned Actel in its March 6th Catalyst Research Report when it made the settlement agreement with Ramius appointing three people to a board of no more than eight members. Actel was also mentioned in several previous reports about Ramius quickly accumulating its stock since early September 2008 and then sending a letter to Actel’s President and CEO in November 2008 with an analysis indicating Actel’s stock potentially priced between $15.46 and $17.42 per share if its Flash business was sold.

Ramius also recently announced a 5.8% “active” ownership position in Extreme Networks, Inc. (NASDAQ: EXTR). The firm currently holds 5,228,979 shares of Extreme Networks or 5.8% of shares outstanding.

Disclosure: No positions

Stocks: ACTL-OLD, EXTR