3/2/2023 0 Comments Luxor game yahoo![]() The call was also echoed by Canyon Advisors, another hedge fund and shareholder who said the firm should not waste any more time: If the Board is unwilling to accept the need for significant change, then an election contest may very well be needed so that shareholders can replace a majority of the Board with directors who will represent their best interests and approach the situation with an open mind and a fresh perspective. That meant Yahoo had to seek alternatives.įed up with the Yahoo's continued underperformance, activist hedge fund Starboard Value wrote to Yahoo in January and threatened to replace its management to achieve the drastic change it desired: To improve its flagging share price, Yahoo had originally planned to spin-off its stake in Alibaba, but ultimately decided against it last year after the IRS indicated that it would not rule on the proposed spin-off, creating uncertainties on whether it would be a tax efficient transaction. ![]() ![]() The company owns 384 million shares in the Chinese company, which at yesterday's closing price of $74.25 was worth $28.5bn, or 86% of the current Yahoo. With a market cap of $33bn, much of Yahoo's market value is tied to its stake in Alibaba. Yahoo's share price soared in the months leading up to Alibaba's September 2014 IPO, only to decline drastically from 2015, tracking BABA closely: Under her leadership, shares of Yahoo improved dramatically, although analysts have noted that was more because of investors' enthusiasm over its stake in Chinese internet company Alibaba (NYSE: BABA) than about Yahoo's core business, which had been underperforming for years. ![]() Recruited to the helm from Google in 2012, Yahoo's (NASDAQ: YHOO) CEO Marissa Mayer was once a beacon of hope for the struggling internet company after years of mismanagement. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |