Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

WSJ: Starboard takes 5.8% of Symantec, seeks five board seats

Published 08/16/2018, 12:36 AM
Updated 08/16/2018, 12:36 AM
© Reuters.  WSJ: Starboard takes 5.8% of Symantec, seeks five board seats
  • Activist Starboard Value LP has taken a position in Symantec (NASDAQ:SYMC) with an eye to seeking five board seats and (clearly) some operational change at the antivirus software maker.
  • The firm beneficially owns about 5.8% of the company and privately nominated five directors to the 11-person board in July, The Wall Street Journal reports.
  • It's seeking better margins after a 2018 where shares have fallen 34% -- including a day in May where news of an internal audit sent shares sliding.
  • Starboard says its slate (including a former chairman of antivirus rival AVG, a former Intuit (NASDAQ:INTU) exec, and three people it put on Marvell's board) can help with remediating financial reporting issues.
  • Now read: Could Check Point Be Looking At Improving Momentum?


Original article

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.