Activist Investor Urging Yahoo and AOL Merger Discloses Stakes in Both Companies
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Activist investor Starboard Value LP disclosed stakes in Yahoo Inc and AOL Inc on Friday, nearly two months after it urged the two companies to merge.
Starboard disclosed a 7.7 million share stake in Yahoo and a 1.9 million share stake in AOL.
This translates to a 0.8 percent stake in Yahoo and a 2.5 percent stake in AOL, according to Thomson Reuters data.
Starboard in September sent a letter to Yahoo, saying a merger with AOL could create up to $1 billion in "synergies" by reducing overlaps in online display advertising and other overhead costs.
(Reporting by Anya George Tharakan in Bangalore; Editing by Sriraj Kalluvila)