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Gamco decreased its stake in Twin Disc (TWIN)

Key Summary: Twin Disc, Inc. manufactures power transmission equipment. Gamco engaged with the company over its poison pill policy in 2012 and increased its stake from 5.26% (2011) to 17.5% (2017), later reducing it slightly to 16.95% in 2020.

Market Cap: $161 million | Twin Disc, Incorporated designs, manufactures, and sells marine and heavy-duty off-highway power transmission equipment. The company operates through two segments: manufacturing and distribution.

  • In April 2012, Gamco sent a letter to the company stating that it intended to submit a shareholder proposal for inclusion in the upcoming proxy statement to have shareholders vote on whether the poison pill should be continued.
  • In May 2012, Gamco sent a letter to the company regarding the enlargement of the threshold of the poison pill from 15% to 20%. It stated that this enlargement underscores the company’s focus and sensitivity to shareholder values. Gamco confirmed that it would not be submitting a shareholder proposal in the upcoming proxy statement.
  • On August 29, 2017, Gamco increased its stake to 17.50%, up from 5.26% in August 2011.
  • On June 2, 2020, Gamco decreased its stake to 16.95%.

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