Starboard urges Aecom to review its strategic options to unlock value [MarketWatch]
AECOM (ACM)
Last aecom earnings: 2/3 06:55 am
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Source: MarketWatch
Starboard urges Aecom to review its strategic options to unlock value Activist shareholder Starboard Value LP said Thursday it has delivered a letter to the head of infrastructure company Aecom, urging a prompt review of the company with the aim of unlocking value. STarboard, which owns 4.0% of Aecom's outstanding shares, said it welcomes the recent announcement that the company plans to sell off its management services division, which is one of three along with design and consulting services and construction services. "This is potentially a positive development," said the letter. "However, it is just one piece of a broader set of opportunities to unlock significant value at AECOM." The company was formed through a set of deals that have not been effectively integrated and metrics lag those of peers, said the letter. "We believe there is a substantial opportunity to drive profitability improvements through integration and operational initiatives. In addition, we believe a more expansi
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