A Stealth Investor In The Spotlight

VALUE INVESTOR MICHAEL Price has long made his canny moves quietly. Yet now, he is entering a very public arena: the proxy battle. Price's Heine Securities, in Short Hills, N.J., recently warned embattled Michigan National that it might challenge the bank's board with its own slate next year. According to a Heine filing with the Securities & Exchange Commission, the Heine directors would likely sell the bank. Price won't comment, but the bank says it wants to stay independent.

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