Investor asks Layne Christensen to reorganize

Mon Aug 25, 2014 6:58am EDT

Aug 25 (Reuters) - Layne Christensen Co's largest shareholder said it had asked the water management company to reorganize and consider selling a division to repay debt.

Investment manager Van Den Berg Management I Inc, which said it presented its proposals to the company on Aug. 13, said it held a 16.2 percent stake in the Woodlands, Texas-based company.

Van Den Berg Management, which is headquartered in Austin, Texas, also said it had suggested a share buyback program to increase shareholder value.

Layne Christensen shares closed at $11.29 on the Nasdaq on Friday.

(Reporting By Shubhankar Chakravorty in Bangalore; Editing by Sriraj Kalluvila)

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

Find your dream retirement town

Florida? Hawaii? Reuters has teamed up with Zillow to give you the power to customize a list of your best places to retire.  Video | Full Article