Dan Loeb has continued his charge to change the way Yahoo! Inc. NASDAQ:YHOO" target="_blank" rel="nofollow" >(NASDAQ:YHOO) does business. His Third Point LLC controls 5.81% of the company. In a disclosure statement filed March 12th Loeb demanded a full list of the shareholders at Yahoo in order to best derve the interests of the company. He wants the list of shareholders to allow him to communicate with them directly discussing his ideas about the future of the company. He also wants to share his nominees for the company's board. Loeb has nominated himself to be on the board of the company showing his interests to be in the longer term. The fund added 250,000 shares to their stake on March 9th.
This is not the first time Loeb has communicated his thoughts on Yahoo's prospects. Previously he has talked about Yahoo's stake in Chinese search giant Alibaba, enforcing the value of that company in China's emerging internet market. Loeb believes that this stake among other things have left Yahoo severely undervalued, an undervaluation he clearly aims to take advantage of. There has however been some uncertainty at yahoo of late. The company sued Facebook recently over patent infringement. These so called "patent wars" have been running rampant in the recent past the biggest players being Apple Google and Samsung.
The statement Loeb filed with the SEC shows his commitment to Yahoo and it show that he has a plan for its future. If he is allowed access to the shareholder's information and manages to convince them of his strategy he may very well change the way the tech giant operates.