SAN FRANCISCO (Reuters) - Activist investor Starboard Value LP said on Friday it has acquired a significant stake in Yahoo Inc (YHOO.O) and urged the struggling Internet company to cut costs, monetize its Asian assets and seek a "strategic combination" with AOL Inc (AOL.N).
Shares of Yahoo Inc were up 3.75 percent at $40.41 at midday.
In a letter to Yahoo Chief Executive Marissa Mayer, Starboard said it was looking forward to "engaging directly" with Yahoo to discuss how its plan could be implemented in a timely manner.
"We believe a merger of AOL and Yahoo's core business may be one of the best ways to both fully seize the cost reduction opportunity and also to tax efficiently monetize Yahoo's non-core equity holdings," the letter said.
(Reporting by Alexei Oreskovic; Editing by David Gregorio)
FIND OUT MORE ABOUT 'BEN Latest News'
'Like us on Facebook'
http://www.facebook.com/pages/BEN-Latest-News/443681719077160
'Follow us on Twitter'
www.twitter.com/benlatestnews
For Advertisment and Partnering with us contact the CEO on:
BEN Latest News™
BB PIN: 260158B5
Skype: cwizard123
Phone: (+234)-807-591-2014
Work: (+234)-903-027-0566
Mobile: (+234)-818-505-0866
BizLine:(+234)-812-595-5300
Email: cwizard123@gmail.com
BLNs: benlatestnews@gmail.com
On: Facebook, Twitter | LinkedIn - cwizard123
0 comments:
Post a Comment