ValueAct Capital Notes 5.7% Stake In Newly Created Exterran Holdings (EXH) (EXH, rated BUY)
In a 13D filing after the close on Exterran Holdings, Inc. (NYSE: EXH ), ValueAct Capital disclosed a 5.7% stake (3,771,495 shares) in the company. In a pretty standard disclosure, the firm did not make any direct requests on the company, but said they will monitor their investment and may enter discussions with management, the Board of Directors or others. This is not a new stake. Exterran Holdings is the company created from the merger of Hanover Compressor Co. (old symbol 'HC') and Universal Compression Holdings (old symbol 'UCO'). ValueAct had previously held an 11.6 million share stake in Hanover and, based on the merger agreement, ValueAct received 0.325 shares of Exterran common stock for each share of Hanover they held.