Capital Markets
Company Overview of Starboard Value LP
Company Overview
Starboard Value LP is a privately owned hedge fund sponsor. The firm primarily provides its services to pooled investment vehicles. It also caters to state and municipal government entities. The firm invests in the public equity markets of the United States. It invests in value stocks of small-cap companies. The firm employs fundamental analysis to make its investments. Starboard Value LP was founded in March 2011 and is based in New York City.
830 Third Avenue
3rd Floor
New York, NY 10022
United States
Founded in 2011
Key Executives for Starboard Value LP
Starboard Value LP Key Developments
Starboard Value LP announced Glass Lewis & Co., LLC has recommended that Tessera Technologies Inc. shareholders vote on Starboard's WHITE proxy card to elect four of Starboard's highly qualified nominees, Tudor Brown, George Cwynar, Peter Feld and Thomas Lacey, at the upcoming Annual Meeting.
Starboard Value LP, largest shareholder of Wausau Paper Corp. asked the company to consider a sale. On January 11, 2013, Wausau Paper announced that it started considering strategic alternatives for its paper business. Starboard said that Wausau was not moving fast enough to consider a sale of the paper business or the entire company. Starboard in a letter to Wausau Chairman Thomas Howatt wrote, "Unfortunately, despite the continued underperformance of the Technical Paper business and our regular communications with you over the past year, you were unwilling to commit to exploring value-maximizing alternatives for either the technical paper business or the entire company."
People familiar with the matter said that on September 17, 2012, Starboard Value LP will disclose on that it has taken a 13.3% stake in Office Depot, Inc. In a letter to Office Depot's Chief Executive, Neil Austrian, the Chief Executive Officer of Starboard, Jeffrey Smith said that Office Depot's shares are deeply undervalued but the management could take active steps to improve performance. The acquisition of 13.3% stake in Office Depot makes Starboard its largest shareholder.
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