Two Yahoo investors, acting independently, have publicly called for radical changes or a potential sale of the firm. Both Canyon Capital Advisors and SpringOwl Asset Management apparently were unappeased by last week’s announcement that Yahoo would spin off its core Internet business. Canyon Capital Advisors on Friday sent a letter to Yahoo Chairman Maynard Webb, urging the company to find a buyer for its core Internet businesses or to sell it the company outright. The letter chides the board for a lack of independence from top management.
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Disgruntled Yahoo Investors Suggest Different Paths Forward
Posted by: David Jones December 16, 2015 05:00 AMTwo Yahoo investors, acting independently, have publicly called for radical changes or a potential sale of the firm. Both Canyon Capital Advisors and SpringOwl Asset Management apparently were unappeased by last week’s announcement that Yahoo would spin off its core Internet business. Canyon Capital Advisors on Friday sent a letter to Yahoo Chairman Maynard Webb, urging the company to find a buyer for its core Internet businesses or to sell it the company outright. The letter chides the board for a lack of independence from top management.