Reuters logo
Third Point to move forward with Yahoo proxy fight
March 25, 2012 / 11:15 PM / 6 years ago

Third Point to move forward with Yahoo proxy fight

NEW YORK, March 25 (Reuters) - Activist hedge fund Third Point LLC is disappointed by Yahoo Inc’s refusal to accept its nominees to Yahoo’s board and will move forward with a proxy contest against the Internet company, it said on Sunday.

“Third Point offered several significant compromises to strike a deal and avoid a proxy contest,” the fund said in a statement.

“Sadly for shareholders ... the consequence of the board’s refusal to accept Third Point’s shareholder-friendly proposals will be a time-consuming and distracting proxy contest that the company can ill afford,” Third Point said.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below