TCS Capital Management, an activist investor, has acquired a stake in Yelp and is recommending that the service-recommendation website explore strategic options, such as a potential sale, according to sources familiar with the matter as reported by the Wall Street Journal.
According to a report on Monday, TCS Capital holds over 4% of Yelp’s outstanding shares and is among the company’s top five shareholders. TCS Capital has been investing in Yelp for most of the past five years, although this stake has not been publicly disclosed until now.
In a letter addressed the board of Yelp, Eric Semler, founder of TCS Capital, proposes the potential sale of Yelp at a price of $70 per share, which is over double the current stock price.
Semler plans to inform Yelp’s board that his investment firm, along with a group that includes an unidentified executive from a comparable business, is prepared to make an offer for Yelp, as per the report.
According to the report, Semler suggested that Yelp might consider a tax-free merger with Angi, an online-services company.
“Yelp maintains an active dialogue with our shareholders and values constructive feedback on our business and ways to create value,” a Yelp spokesperson told Reuters.
Featured News
Canada’s Agricultural Giants in Antitrust Spotlight
Apr 23, 2024 by
CPI
US House Passes Bill That Could Lead to TikTok Ban
Apr 23, 2024 by
CPI
ADM CFO Resigns Amidst DOJ Investigation Into Accounting Issues
Apr 23, 2024 by
CPI
FTC Throws the Bag: Tapestry’s Capri Deal Blocked Over Market Monopoly Concerns
Apr 22, 2024 by
CPI
Italy’s Antitrust Authority Investigates Enel’s Communication of Energy Price Hikes
Apr 22, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI