This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Yahoo! Needs to Update Shareholders

Stocks in this article: YHOO MSFT

NEW YORK ( TheStreet) -- Investors are growing tired with the lack of transparency about Yahoo!'s (YHOO) strategic plan, and one prominent investor has now gone public by asking for clarity on what transactions the company is considering.

Daniel Loeb of hedge fund Third Point LLC is vehemently opposed to the proposed deals mentioned in recent media reports, such as the possibility that Yahoo! is considering investments from private equity firms, such as Silver Lake Partners.

Third Point's Dan Loeb is concerned Yahoo! is not looking out for the best interest of shareholders.

In his letter, Loeb said he wants to the company to see if "the Process Letters, which may be published in redacted form, are consistent with the Board's paramount duty to maximize stockholder value."

There has been little if any communication from Yahoo! to its shareholders, and Loeb, who owns 5.2% of the stock according to a regulatory filing, has grown tired and fed up.

This is not the first time Loeb has raised feathers before, having previously called the board "clowns" at a September CNBC investor conference.

The process at Yahoo! has gone on for a while now with little if any public disclosure by the Sunnyvale, Calif.-based company. There have been leaked internal memos that the company is considering all of its strategic options, but little in the way of announcements from the company.

This Nov. 4 statement from the company is its most recent communication on the status of the review it began in early September after the ouster of Carol Bartz from the CEO post.

Loeb isn't asking for the board, led by Chairman Roy Bostock and company co-founder Jerry Yang, to make communications related to the strategic review available to the public and wants the negotiations to continue to be confidential.

But he is asking for an update, something, anything, from the company to indicate where things stand.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,790.90 +12.75 0.07%
S&P 500 2,066.68 +5.45 0.26%
NASDAQ 4,761.8450 +13.4490 0.28%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs