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July 22, 2013 05:32 pm GMT
Looks like Yahoo is trying to take control of its own destiny once again. The company today announced that it would repurchase 40 million shares owned by Third Point LLC at a price of $29.11 per share, working out to some $1.164 billion in value. As a result, Third Point will own less than 2% of the internet company, and the three people it appointed to the board last year -- Daniel S. Loeb, Harry J. Wilson, and Michael J. Wolf -- will resign, effective July 31.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/NPVEbEAV-rI/
Yahoo Buys 40M Shares From Third Point ($1.2B In Value) As Loeb, Wilson And Wolf Resign From Board
Looks like Yahoo is trying to take control of its own destiny once again. The company today announced that it would repurchase 40 million shares owned by Third Point LLC at a price of $29.11 per share, working out to some $1.164 billion in value. As a result, Third Point will own less than 2% of the internet company, and the three people it appointed to the board last year -- Daniel S. Loeb, Harry J. Wilson, and Michael J. Wolf -- will resign, effective July 31. Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/NPVEbEAV-rI/
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