One of Yahoo’s major investors, hedge fund Third Point, is calling upon shareholders to elect four of its nominees to the company’s board. This is just the latest round in what could become a very nasty fight. “There are a couple of things happening,” said Charles King, principal analyst at Pund-IT. Third Point, which has a 5.8 percent stake in Yahoo, “clearly has concerns about maximizing the value of that investment.” Third Point’s letter to investors came to light a week after the firm indicated it would launch a campaign to elect its nominees to the board if Yahoo’s management did not accept them first.
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Yahoo May Face Bitter Battle Over Board Makeup
Posted by: Peter Suciu March 21, 2012 02:03 PMOne of Yahoo’s major investors, hedge fund Third Point, is calling upon shareholders to elect four of its nominees to the company’s board. This is just the latest round in what could become a very nasty fight. “There are a couple of things happening,” said Charles King, principal analyst at Pund-IT. Third Point, which has a 5.8 percent stake in Yahoo, “clearly has concerns about maximizing the value of that investment.” Third Point’s letter to investors came to light a week after the firm indicated it would launch a campaign to elect its nominees to the board if Yahoo’s management did not accept them first.