Activist Practice Client Starboard Value Sends Letter to AOL Board and CEO
Olshan’s client Starboard Value LP announced a 4.5% ownership stake in AOL Inc. and delivered a letter to the Company’s CEO and Board of Directors. In the letter, Starboard stated that AOL is deeply undervalued and that substantial and actionable opportunities exist to significantly enhance shareholder value. Starboard urged the Board to take immediate action to address the significant concerns Starboard highlighted in the letter and hopes to have an in-person meeting with the Board to more fully discuss Starboard’s views. Steve Wolosky and Andrew M. Freedman comprise the Activist team that represents Starboard Value. The Wall Street Journal, MarketWatch, and Reuters, among other media, reported on the story.