Thursday, 28 August 2014
Last updated 42 min ago
Mar 22 2012 | 12:26pm ET
Daniel Loeb is going to war with Yahoo! Inc., as he seeks to get himself and three allies seats on the company's board.
The Third Point founder has been calling for changes at the Internet company for years. Four years ago, he backed a challenge mounted by fellow activist Carl Icahn, and in December blasted its board and leadership for "mismanagement." That salvo contributed to the resignation of Yahoo!'s founder, Jerry Yang, in January.
But Yang's ouster hasn't satisfied Third Point, which owns 5.8% of Yahoo! and has called on the company to consider a sale. Last month, it demanded board seats, and this week began to lay the groundwork for a proxy battle. The regulatory filing came a week after Loeb warned new Yahoo! CEO Scott Thompson that he was in for a fight if he didn't add Third Point representatives to his new company's board.
In addition to Loeb, Third Point would add turnaround specialist Harry Wilson, former MTV Networks executive Michael Wolf and former NBC Universal CEO Jeff Zucker. Yahoo! is still looking to fill some of four soon-to-be-vacant board seats, making a compromise possible. If not, investors will have their say at the company's annual meeting, the date for which has not been set.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...