Amadeusz Juskowiak

Painewebberpwj unit ups shaer shoe shs stake

Mitchell Hutchins Asset Management Inc a New York investment firm and subsidiary of PaineWebber Group Inc said it raised its voting stake in Shaer Shoe Corp to 76000 shares or 75 pct from 52100 shares or 51 pct

In a filing with the Securities and Exchange Commission Mitchell Hutchins said it bought 11900 shares between Jan 8 and Feb 24 at prices ranging from 12125 to 1275 dlrs a share and obtained voting control over another 12000 shares

The firm has said it bought the stake as an investment on behalf of its clients but said it has had discussions with Shaer management It did not disclose the topic of the talks

Reuter