Making Sense Of Yahoo's Current Stock Price In Light Of Any Potential Sale
By Adam Muller:Yahoo (YHOO) had a busy September. The board fired CEO Carol Bartz only to have their credibility called out the next day by Third Point, an activist hedge fund. The Schedule 13D filed by Third Point on September 8 revealed voting power of 65 million shares, representing a 5.15% ownership stake in Yahoo. The 13D included a letter to Yahoo’s board of directors, suggesting that the board had mismanaged the company and should be replaced. On September 14, an amended 13D was filed. In the amendment, a letter to Yahoo co-founded Jerry Yang was included. The letter referenced a phone call between Jerry Yang and Third Point that was cut short by Yahoo’s chairman Roy Bostock. Mr Bostock was called in Third Point’s original letter for his responsibility in hiring Carol Bartz and turning down Microsoft’s 2008 offer for the company: Accordingly, we insist that Mr. Bostock, who championed Ms.Complete Story »
- Original article
- Login or register to post comments
