Yahoo! (YHOO) to Repurchase 40M Common from Third Point at $29.11/Share
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Needham & Company Downgrades Yahoo! (YHOO) to Hold; Loeb Exit Raises Risks
July 23, 2013 8:28 AM EDTNeedham & Company downgraded Yahoo! (NASDAQ: YHOO) from Buy to Hold, citing increased risks following news Dan Loeb is selling a bulk of his position and resigning from the board.
Analyst Laura Martin comments, "Third Point's exit raises important questions relating to "Why Now?" At least... More
Yahoo! (YHOO) 40M Share Sale by Third Point Raises Concerns
July 22, 2013 11:30 AM EDTOn Monday it was learned that Yahoo! Inc. (Nasdaq: YHOO) entered into an agreement to repurchase 40 million shares of Yahoo! common stock owned by Third Point at a purchase price of $29.11 per share. Third Point will now own 20 million shares or a 2% stake in Yahoo. The three board members appointed in association with Third Point's investment have also announced their resignations from the Board. In the view of analyst Brian Wieser of Pivotal Research,... More
