Investor Group Increases Maxxam Stake: A group...

Investor Group Increases Maxxam Stake: A group led by billionaire Harold C. Simmons has raised its stake in Maxxam, the Los Angeles forest products concern that controls Kaiser Aluminum & Chemical, to 13.8%, or 1.2 million shares, from 11.9%. The group bought 165,500 Maxxam shares between Oct. 16 and Nov. 14 for $35 to $45 each, or $7.35 million, according to a filing with the Securities and Exchange Commission. The Simmons group said it bought the stock for investment purposes. It has paid a total of $19.67 million for its Maxxam holdings.