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Activist Investors Target Bill Holdings as Stock Rebounds from Lows
Activist Investors Target Bill Holdings as Stock Rebounds from Lows
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BTCCSquare news:
Bill Holdings (BILL) surged 6% in after-hours trading following revelations that Elliott Management acquired a 5% stake, joining activist fund Starboard Value in pressuring the payments processor. The stock remains 85% below its 2021 peak despite processing $300 billion in annual payments.
With $400 million in net cash and a $300 million buyback program underway, Bill Holdings emerges as a potential takeover target in the consolidating fintech sector. Recent acquisitions of peers Coupa, AvidXchange, and Melio underscore the market's appetite for distressed payment platforms.
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