News
Real Estate To Yahoo's Rescue?
April 20, 2016
Embattled Yahoo is up for sale. The company's transformation under Marissa Mayer didn't happen fast enough for activist shareholders like Starboard Capital. (The activist hedge fund is known for launching bruising proxy board fights to oust management and its head, Jeff Smith, was dubbed "the most feared man in corporate America.")
Yahoo's substantial real estate holdings could help the company get a higher bid on the auction block, according to Variety, citing an analysis by SunTrust equity watcher Bob Peck, who said Yahoo's nearly 1M SF of property was "under appreciated" and could earn it $1B. The valuation determined the whole company to be worth around $8B.
So 1/8 of Yahoo's value could be in plain old real estate. [Variety]
