Navigate this market better. Subscribe for FREE stock alerts and information.

Friday, September 26, 2014

Activist investor Starboard urges Yahoo to combine with AOL, (NYSE: AOL)

Activist investor Starboard Value LP said Yahoo Inc should consider a strategic combination with AOL Inc to save more than $1 billion in costs. Starboard also urged Yahoo to cut expenses and look for ways to generate value for shareholders from its stakes in Alibaba Group Holding Ltd and Yahoo Japan Corp.Starboard said it had acquired a significant stake in Yahoo and delivered a letter to Yahoo's board with its suggestions.

AOL Inc. (AOL) is a global Web services company with a range of brands and offerings, and a global audience. Shares of AOL traded higher by 3.33% or $1.43/share to $44.40. In the past year, the shares have traded as low as $32.19 and as high as $53.28. On average, 1069650 shares of AOL exchange hands on a given day and today's volume is recorded at 4454819.