Third Point’s Dan Loeb Wants Jerry Yang Deposed from Yahoo $YHOO

Hedge Fund Manager Dan Loeb is worried Jerry Yang, the founder of Yahoo, will muck up its sale reports the Wall Street Journal. Loeb, who manages the Third Point hedge fund, is an activist investor, meaning that his fund tends to take positions large enough to give them a say in company management and operations. The idea is that by having a large enough stake, the activist investor can maximize shareholder value. In this case, Loeb thinks that Yang should be deposed.

Dan Loeb Calls for Jerry Yang’s Head

Dan Loeb feels so strongly about Yang’s dismissal, that he sent a letter to the Yahoo board. In that letter, Loeb explained that he is worried about a “leveraged recap transaction the company is pursuing.” The issue is that if the transaction is approved, it “ would give private-equity firms a possible shot at taking over control of Yahoo without buying a majority stake. “Loeb also said he is worried about reports Yang is talking on his own to potential private-equity buyers of Yahoo.” Loeb said, “The Board and the Strategic Committee should not have permitted Mr. Yang to engage in these discussions, particularly given his ineptitude in dealing with the Microsoft negotiations to purchase the Company in 200.”

THIRD POINT

Dan Loeb Also Wants Roy Bostock’s

Dan Loeb isn’t done there. He also “wants two director posts on the Yahoo board,” specifically Loeb wants the seats held by Yang and the one held by Yahoo Chairman Roy Bostock. The Wall Street Journal writes “Loeb’s letter includes a veiled threat (ok, no so veiled) of a campaign to boot off Yahoo’s existing board members.”

Biotech Insider Alert - $6 Stock To Hit $40

$200 Million Dollar Healthcare Hedge Fund's #1 Best Idea Right Now

The best healthcare hedge fund out there right now is one of the largest shareholders in this biotech stock. The fund returned more than 20% in each of the last 2 years with a virtually fully hedged portfolio, and it's sending out a BUY signal on this biotech stock. Get your FREE REPORT today (retail value of $300)

This is a FREE report from Insider Monkey. Credit Card is NOT required.
Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The Best Romance Movies of all Time

The Most Wanted Drug Lords

The Oldest Money Managers

The Greatest Directors in the World

Largest Animals in the World

World’s Most Expensive Desserts

Best Selling Comic Books of All Time

A-list Actors who Sabotaged Their Career

Rappers With a College Degree

The Best Jazz Albums of all Time

The Most Influential Jazz Musicians

The World’s Most Famous Photographers

The Best Oscar-Winning Songs

Most Influential Choreographers Ever

Most Expensive Department Stores in the World

The Most Expensive Stolen Paintings in the World

The World’s Most Expensive Teas

Top Oscar Record Holders

The Most Expensive Flowers in the World

Countries With a Booming Film Industry

Most Expensive Cupcakes in the World

Uncommon European Escapes

The Most Stolen Artists in History

Best Travel Destinations in Australia

World’s Most Expensive Musical Instruments

World’s Most Famous Animals

Most Expensive Cakes in the World

Most Expensive Kosher Champagne in the World

Most Expensive Kosher Wine in the World

The Most Surprisingly Dark Fairy Tales

Most Popular Travel Destinations in Asia

The 10 Most Expensive Dresses Ever Worn to the Oscars

World’s Most Visited Art Museums

Best Countries for Photographers to Work in

Best Paid Jobs in the Film Industry

The Most Renowned Recovered Paintings Ever

Child Stars That Turned out Just Fine

Books That Were Banned in the Past Century

World’s Richest Dancers

Best Remedies against Bad Breath

Foods That Improve Your Skin Texture

Best-Selling Children’s Books of all Time

Foods That Boost Your Libido

Best-Selling Books of all Time

The Most Expensive Academy Awards Jewelry in History

Most Expensive Japanese Restaurant In New York City

The Best B-Boy Movies

Most Awesome Hip Hop Documentaries

Foods That Stain Your Teeth

Richest Doctors in the World

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 129% in 2.5 years!! Wondering How?

Download a complete edition of our newsletter for free!