Yahoo just can’t catch a break, and they deserve not to. Running a business is hard, no matter the size, but some people fail to see when they are making mistakes, and more often than not, someone is ready to capitalize on those mistakes. Yahoo’s management and board can’t seem to make any good decisions regarding the ailing tech company. Given that their core company is theoretically valued at zero dollars, you would think they’d have made big plans to right the ship. But no, they considered selling certain major assets, but to no avail. Now, activist hedge fund group Starboard Capital is launching a proxy war to take over Yahoo’s entire board. Yahoo wants to sell its core business due to failures to stay competitive in the tech market; Google (Alphabet) and Facebook are two major threats Yahoo can’t fully handle. For Starboard, this isn’t enough, and the hedge fund wants a whole-sale replacement of the board. Luckily for Yahoo, the company has until the end of June to work out a deal, so not all hope is lost. At the end of June comes Yahoo’s annual meeting, where if things don’t improve, they could see Starboard take over the entire company. [more...]
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