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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
SunTrust Robinson Humphrey’s Robert S. Peck maintained a Buy rating on Yahoo! Inc. (NASDAQ: YHOO).
Starboard Files Board Nominations
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Peck mentioned that Starboard has filed its Board nomination. “The list includes investment banker Tor Braham, tech executives Dale Fuller and Richard Hill, media executive Eddy Hartenstein and Starboard’s CEO Jeffrey Smith.”
Peck also noted that some shareholders, SpringOwl and Canyon, have been increasingly voicing their concerns regarding the apparent lack of urgency associated with the sale process.
The analyst stated that it was already 110 days since Yahoo’s Chairman said, “The Board has fiduciary obligation to engage with any legitimate person that comes forward with a good offer.”
Yahoo Needs To Give Notice
Yahoo now needs to provide notice of “not less than 10 nor more than 60 days before the date of the meeting to each stockholder entitled to vote at such meeting” for its annual meeting.
Peck expects a proxy to be mailed in late April, with the shareholder meeting being held in late June, similar to the schedule followed in 2015.
“Yahoo recently disclosed it had expanded the Board from 7 to 9 by adding 2 new independent members,” Peck said, while that that he believes “it likely signifies that Yahoo has already been gearing up for a proxy contest.”
Core Sale Possible
Peck continues to believe that a quick sale of the core would maximize value for shareholders. Media reports suggests that more than 20 potential buyers have expressed interest to the board.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.