Box says Starboard sought to get in on KKR deal it criticized [Reuters]
Box, Inc. Class A (BOX)
Last box, inc. class a earnings: 2/26 04:05 pm
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US:NYSE Investor Relations:
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Source: Reuters
By Svea Herbst-Bayliss 3 Min Read (Reuters) - Box Inc said on Tuesday hedge fund Starboard Value LP had asked to invest in the cloud storage vendor alongside private equity firm KKR & Co Inc, despite calling it a bad deal that spurred it to launch a board challenge against the company. Starboard has criticized KKR’s $500 million convertible stock investment in Box, which was announced in April, as a “transparent act of entrenchment” by Box’s board. The activist hedge fund had pushed Box, which has a market value of $4.3 billion, to sell itself, rather than only sell a stake in itself. Box used the money it raised to buy back stock. New York-based Starboard, which owns an 8% stake in Box, has nominated four directors for election to the company’s 10-member board, arguing the company failed to capitalize on the work-from-home trend during the COVID-19 pandemic, falling behind its cloud computing peers. Starboard is trying to remove Box co-founder and chief executive officer Aaron Levie
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BOX
News
- Despite shrinking by US$163m in the past week, Box (NYSE:BOX) shareholders are still up 28% over 5 years [Yahoo! Finance]Yahoo! Finance
- Box, Inc. (NYSE: BOX) was upgraded by analysts at StockNews.com from a "buy" rating to a "strong-buy" rating.MarketBeat
- Bulletproof, Global Brand Agency, Chooses Box for Cloud Content ManagementBusiness Wire
- Box Named a 2024 Fortune® 100 Best Companies to Work For® [Yahoo! Finance]Yahoo! Finance
- Box Named a 2024 Fortune® 100 Best Companies to Work For®Business Wire
BOX
Earnings
- 3/5/24 - Beat
BOX
Sec Filings
- 4/15/24 - Form C-TR
- 4/15/24 - Form C-AR
- 4/11/24 - Form 4
- BOX's page on the SEC website