Yahoo plans to repurchase 40 million shares from Third Point LLC for nearly $1.2 billion. “Looks like Yahoo is trying to take control of its own destiny once again,” TechCrunch reasons.
“As a result, Third Point, led by activist investor Daniel Loeb, will own less than 2% of the internet company, and the three people it appointed to the board last year -- Loeb, Harry J. Wilson,
and Michael J. Wolf -- will resign.”
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