The fun begins again: Activist shareholder Starboard love for America Online (AOL) seems not to be lowered as of now or forever, the company recently submitted presentation that it had filed with SEC yesterday is a must read.
Earlier AOL announced that the company entered into a definitive agreement to sell over 800, keeping over 300 significant patent portfolios to itself, of its patents and their related patent applications to Microsoft granting the software giant a non-exclusive license to its retained patent portfolio for aggregate proceeds of $1.056 billion in cash.
Activist fund Starboard Value LP which recently raised its stake in America Online to 5.1%, in February nominated a slate of five candidates to AOL board, saying the prior discussions with the company in the past two months were not up to the mark. AOL in a statement states that it held several meetings with Starboard to address its questions and offered the hedge fund an opportunity to help shape the company’s board.
