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SAN FRANCISCO, Sept 26- Activist investor Starboard Value LP said on Friday it has acquired a "significant" stake in Yahoo Inc and urged the Internet company to explore a merger with AOL Inc..
SAN FRANCISCO, Sept 26- Activist investor Starboard Value LP said on Friday it has acquired a significant stake in Yahoo Inc and urged the struggling Internet company to cut costs, monetize its Asian assets and seek a "strategic combination" with AOL Inc..
NEW YORK, Sept 26- Shares of both Yahoo Inc and AOL Inc jumped in afternoon trading on Friday, turning sharply higher after Starboard Value LP urged a strategic combination of the companies.
Sept 26- Activist investor Starboard Value LP said Yahoo Inc should consider a strategic combination with AOL Inc to save more than $1 billion in costs. Starboard also urged Yahoo to cut expenses and look for ways to generate value for shareholders from its stakes in Alibaba Group Holding Ltd and Yahoo Japan Corp..
Starboard has sent a letter to Yahoo pressuring the company to explore a strategic combination with AOL. CNBC's Brian Sullivan and the FMHR traders discuss.
Starboard Value sent a letter to Yahoo on Friday listing several opportunities to increase shareholder value and recommending that it merge with AOL.
Starboard has upped its pressure on Yahoo to explore a strategic combination with AOL. CNBC's Brian Sullivan reports the details.
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Facebook is now able to track how ads impact consumer spending across multiple devices, the company said Wednesday.
Take a look at some of Wednesday's midday movers:
BuzzFeed just closed a new $50 million investment, bringing the value of the company to about $850 million, the NYT reports.
Talking Squawk, the official "Squawk Box" blog, provides tidbits, insights, and some sarcastic reflections on the WEEK THAT WAS and the WEEK TO COME.
*Time Warner posts higher-than-expected profit, sets buyback. Aug 6- Time Warner Inc will not have to worry about any overtures from Twenty-First Century Fox for the foreseeable future. We have no plans to pursue any other third party content company as an alternative to Time Warner. "
Thanks to Rupert Murdoch's recent overture, Time Warner shares have traded more on drama than fundamentals. That may be about to change.
Some of Wednesday's midday movers:
Aug 6- Time Warner Inc Chief Executive Jeff Bewkes opened his remarks during the company's second quarter earnings call on Wednesday vowing he would not discuss Twenty-First Century Fox's stunning turnabout to pull its offer to buy Time Warner.