Friday, March 9, 2012

Activist Shareholder, Daniel Loeb seeks to Gain Seats on Yahoo! Board

After spending years working behind the scenes to push for change, the hedge fund manager is once again openly admonishing management and battling a corporate board. The target: Yahoo.
His firm, Third Point, has amassed a 6 percent stake in the struggling Internet company, and he intends to propose a slate of four directors, including himself, at the company’s annual meeting. He has also sketched out a turnaround strategy for Yahoo that does not necessarily match management’s vision.


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