Starboard eyes Symantec board seats after taking stake
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August 16, 2018 6:55 AM EDT
Symantec Corp. (NASDAQ: SYMC) today issued the following statement in response to the submission by Starboard Value (Starboard), of five nominees to stand for election to the Symantec Board of Directors at Symantecs 2018 Annual Meeting of Stockholders (2018 Annual Meeting).
Symantec maintains open communications with its stockholders and values constructive input that advances the goal of creating value... More
August 16, 2018 6:18 AM EDT
In a 13D filing on Symantec Corp. (NASDAQ: SYMC), hedge fund Starboard Value LP disclosed a 5.8%, or 36,000,796 share, stake in the company. The firm did not hold shares at the end of the latest quarter ending June 30, 2018. The firm seeks 5 board seats.
From the filing:
The Reporting Persons purchased the Shares based on the Reporting Persons belief that the Shares, when purchased, were undervalued and represented an attractive investment opportunity. Depending upon overall market conditions, other investment opportunities available to the Reporting Persons, and the availability of... More
