Third Point LLC Sells a Portion of Holdings in Yahoo! (NASDAQ: YHOO)
NEW YORK -- February 1, 2013
As referenced in the Form 4 filed today with the SEC, funds managed by Third
Point LLC (“Third Point” or “the funds”) recently sold 11 million shares of
Yahoo, Inc. common stock. As a result of these sales, Third Point owns 62
million Yahoo shares, most of which the funds have held since Q3 2011.
These sales were motivated by Third Point’s desire to maintain a roughly
consistent percentage holding of Yahoo’s outstanding shares as the company
pursues its $5 billion buy-back authorization.
About Third Point LLC: Third Point LLC is an SEC-registered investment adviser
headquartered in New York, managing $11.2 billion in assets. Founded in 1995,
Third Point follows an event-driven approach to investing globally.
Third Point LLC
Elissa Doyle, 212-715-4907
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