Box launches AI-focused Hubs for curated search venturebeat.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from venturebeat.com Daily Mail and Mail on Sunday newspapers.
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Starboard Puts Forth Box Board Slate Saying Promises Unkept The hedge fund says Box hasn t narrowed its valuation gap relative to peers as it said it would two years ago.
Bloomberg | May 10, 2021
Scott Deveau (Bloomberg) Activist investor Starboard Value has nominated a minority slate for the board of Box Inc. that will pit its nominees against Chief Executive Officer Aaron Levie and two other directors seeking re-election this year.
Starboard said in a letter to the software company’s shareholders it’s put forth four directors for the three seats to be voted on. The additional nominee will give Starboard some flexibility if Box expands the number of seats up for grabs ahead of the annual general meeting.
EXCLUSIVE-Box explores sale amid pressure from Starboard -sources reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
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March 22 (Reuters) - U.S. cloud services provide Box Inc is exploring a sale amid pressure from hedge fund Starboard Value LP over its stock performance, according to people familiar with the matter.
Redwood City, California-based Box has discussed a potential deal with interested buyers, including other companies and private equity firms, the sources said, cautioning that no sale of the company is certain.
The sources requested anonymity because the matter is confidential. Box declined to comment.
Reuters reported last month that Starboard was preparing to launch a board challenge against Box unless it took steps to boost value for shareholders. It has privately expressed disappointment that the company has failed to capitalize on the work-from-home trend during the COVID-19 pandemic, as many of its cloud computing peers have done.