The activist investor attack against Yahoo! Inc. (NASDAQ: YHOO) to better unlock its value is heating up. Dan Loeb, Harry Wilson, Michael Wolf, and Jeff Zucker have launched the website VALUEYAHOO.COM in an effort to better communicate the value proposition for this troubled internet property.
The group noted, “We created ValueYahoo as a guide for our fellow Yahoo! Shareholders who want change at one of technology’s most valuable – and sadly, we believe, most mismanaged – companies. We share your desire for a new path forward, and here you will find our case for change, along with ways to join our campaign.”
The mission statement notes, “We believe in Yahoo!, its loyal users, committed employees, dedicated partners, and the potential of the brand. Yahoo! shareholders, employees, and partners have suffered for too long with a revolving door of management teams and Directors who have been unable to seize opportunities….”
The move follows a letter sent by Third Point to Scott Thompson, CEO of Yahoo!, which was sent out Daniel Loeb on March 28, 2012.
Yahoo! has seen its share of activist investors in the past. This time it has a different CEO and it is probably worth noting that the history of activists has not been a very successful one when it pertains to Yahoo! Just go ask Carl Icahn.
JON C. OGG