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Monday, September 25, 2006

Jana Partners Raises Stake in Titan International (TWI) to 22.8%

From 13D Tracker

In an amended 13D filing on Titan International (NYSE: TWI), Jana Partners disclosed a 22.8% (4.5 million share) stake in the company. This is up from the 4.3 million share stake the firm disclosed in a quarterly regulatory filing.

Jana's saga with Titan started in October of 2005, when the company voiced opposition to the company's $18 per share merger deal with One Equity Partners LLC. Because of pressure from Jana, in April of 2006 Titan discontinued discussions regarding a potential acquisition of the company by One Equity Partners.

Titan International owns subsidiaries that supply wheels, tires and assemblies for off-highway equipment used in agricultural, earthmoving/construction and consumer applications. Shares of the stock closed at $17.25 on Friday.

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