Highlights History of Poor Financial, Operational, and Stock Price Performance
Expresses View that Recently Announced 2018 Targets Are Insufficient and Too Heavily Reliant on Revenue Growth
Believes that Mellanox has Industry-Leading Technology and a Tremendous Opportunity to Deliver Best-in-Class Financial Results
Appreciative of Constructive Dialogue to Date but Expects Substantial Change Is Needed to Drive Improved Results
NEW YORK, Jan. 8, 2018 /PRNewswire/ -- Starboard Value LP (together with its affiliates, "Starboard"), the largest shareholder of Mellanox Technologies, Ltd. ("Mellanox" or the "Company")MLNX, with an ownership interest of approximately 10.7% of the Company's outstanding shares, today announced that it has delivered a letter to Eyal Waldman, Mellanox's President and Chief Executive Officer, and the Mellanox Board of Directors (the "Board"). Starboard's letter is accompanied by a set of supplemental slides that provide further detail on several key topics.
The full text of Starboard's letter to the CEO and Board and the accompanying slides can be viewed at the following links:
http://www.starboardvalue.com/wp-content/uploads/Starboard_Value_LP_Letter_to_MLNX_01.08.2018.pdf
About Starboard Value LP
Starboard Value LP is a New York-based investment adviser with a focused and differentiated fundamental approach to investing in publicly traded U.S. companies. Starboard invests in deeply undervalued companies and actively engages with management teams and boards of directors to identify and execute on opportunities to unlock value for the benefit of all shareholders.
Investor contacts:
Peter Feld, (212) 201-4878
Jonathan Sagal, (212) 845-7935
www.starboardvalue.com
View original content:http://www.prnewswire.com/news-releases/starboard-delivers-letter-to-mellanox-ceo-and-board-of-directors-300578742.html
SOURCE Starboard Value LP
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