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

U.S. Treasury Moves on Reinsurance Loophole

Apr 24 2015 | 5:11pm ET

The U.S. Treasury Department has released proposed rules aimed at limiting the ability...

Lifestyle

Artivest Announces Funding Round Led by KKR & Co.

May 4 2015 | 9:56am ET

Artivest, a startup that provides individual investors with access to private equity...

Guest Contributor

Starting a ‘40 Act Fund Family? Don’t Forget Your Board

Apr 30 2015 | 7:18am ET

The convergence of the hedge fund and mutual fund worlds continues unabated, as...

 

Editor's Note