In a 13D filing after the close Friday on Steris Corp. (NYSE:STE), Richard Breeden's Breeden Capital disclosed a 6.72% stake (4,259,973 shares) in the healthcare equipment company, up from its holding of 2,621,973 shares of STE as of September 30, 2007. Breeden Capital is run by former SEC chief Richard Breeden. Steris stock gained slightly Monday, closing at $23.56.
According to the filing, as reported in StreetInsider.com 13D Tracker, Breeden Capital had held conversations with Steris' management and non-executive chairman:
Discussions to date have related primarily to the business, financial performance, capital allocation, operations, strategic plans and disclosure practices of the Company. The firm said they may also communicate with the board of directors and/or other shareholders from time to time with respect to operational, strategic, financial or governance matters, or otherwise encourage actions that the Reporting Persons believe in their discretion will enhance shareholder value.