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Activist Investor Starboard Takes 8.5% Stake in Bill Holdings, Sparking 10% After-Hours Surge
Activist Investor Starboard Takes 8.5% Stake in Bill Holdings, Sparking 10% After-Hours Surge
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BTCCSquare news:
Bill Holdings (BILL) shares jumped nearly 10% in extended trading after Starboard Value disclosed an 8.5% activist position. The financial automation software firm now faces pressure to implement operational changes, with Starboard planning to nominate board candidates at the 2025 shareholder meeting.
Despite the recent rebound, BILL remains down 45% year-to-date. Starboard's SEC filing emphasized the stock's undervaluation and outlined plans for discussions with management about value creation strategies. The company maintains confidence in its growth trajectory, but investors appear bullish on activist involvement.
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