Group Buys 9.8% of Whittaker: A New...

Group Buys 9.8% of Whittaker: A New York investment group said it spent $9.2 million to buy 725,000 shares, or about 9.8%, of Whittaker Corp.’s common stock. The group said it bought the stock of the Los Angeles aerospace and specialty chemicals company as an investment. The group includes Pegasus Holding Corp. and Gruss Partners, both investment firms, as well as Joseph S. Gruss, John Bader and Kevah Konner. Bader and Konner are security analysts for Gruss & Co. of New York. Whittaker is restructuring to thwart a hostile offer made last year; the reorganization involves a stock buyback, special $40-per-share distribution and asset sales.