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Investor asks Layne Christensen to reorganize
August 25, 2014 / 11:01 AM / 3 years ago

Investor asks Layne Christensen to reorganize

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

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