RICHMOND, Va. – Shares in armored cash carrier Brinks Co. hit a new high yesterday, for the second trading day in a row, after another major investor supported suggestions that the company explore strategic alternatives like a sale, leveraged buyout or break-up. MMI Investments, which holds an 8.1% stake in Brinks, said the value of the company could be as much as $70 a share, almost 10% more than yesterday’s closing price on the New York Stock Exchange of $63.70. MMI’s proposal comes after a private equity fund, Pirate Capital, which holds about 8.5% of Brinks shares, called for the sale of the company. Brinks shares closed up 6% yesterday.
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