Third Point Adds To Yahoo! Investment

Jul 26 2012 | 11:51am ET

Third Point liked Yahoo! before it won three of its board seats and the head of its CEO and founder. Now that it's got those seats, it can't get enough of the Internet company.

The New York-based activist hedge fund bought another 2.5 million shares in the second quarter; the hedge fund had already added 14.5 million shares to its now 73 million share stake in the first quarter.

Third Point now owns about $1.1 billion in Yahoo! shares, which is its largest investment and which accounts for about 6% of the company's outstanding shares.

In May, Third Point won three board seats and the resignation of Yahoo! CEO Scott Thompson, who the hedge fund had hounded over his allegedly fudged academic credentials. Thompson was replaced this month by Marissa Mayer, a former Google Inc. executive.


In Depth

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

DarcMatter: The Top Trends in Alternative Investments for 2017

Jan 13 2017 | 8:22pm ET

The $7 trillion alternative investments industry is poised for continued growth...

 

From the current issue of

The healthcare sector went on a tear beginning in 2011, thanks in large part to the passage of the Affordable Care Act and its impending implementat