The battle for the board at Yahoo has already begun. With Starboard Value already calling Yahoo shareholders to solicit support, Yahoo is now considering whether to just offer Jeff Smith and Starboard two board seats to the fund.
Join our free newsletter for some exclusive info we don’t share elsewhere.
It appears that Yahoo is caving after months and years of pushing back against hedge funds. However, Starboard likely won’t stop with board seats, but will likely push to get Marissa Mayer ousted. The fund will also push for a sale of the core business.
This year has been a record-breaking year for initial public offerings with companies going public via SPAC mergers, direct listings and standard IPOS. At Techlive this week, Jack Cassel of Nasdaq and A.J. Murphy of Standard Industries joined Willem Marx of The Wall Street Journal and Barron's Group to talk about companies and trends in Read More
Big question; will Starboard go after taking over the entire board or simply settle for 2 board seats. The entire board is 7 members now and a majority will be four seats.
However, it appears that Mayer is coming around, willing to cave to Wall Street a bit. Selling the company is the best bet, but Starboard doesn’t think Mayer is for real. Starboard won’t settle for anything less four board seats.
Yahoo! Inc. (YHOO): Starboard Getting Its Board Seat by Activist Stocks