AOL Takeover Another Win For Wall Street Bets On ‘Left-For-Dead’ Stocks
ByIt’s the You’ve Got Mail generation of stocks, a smattering of former high-flying internet, tech and growth companies that were left for dead by investors shortly after the 2000?s dot-com bust. However, a new crop of Wall Street power players who take a ‘can do’ attitude to corporate turnarounds have figured out a way to pull out value from their shares nearly two decades after Tom Hanks and Meg Ryan lit the silver screen.
Verizon’s $4.4 billion takeover of AOL AOL +18.62% is just the latest in a string of 1990?s-era stock revivals orchestrated by activist hedge fund investors that clamor for representation inside corporate boardrooms, or for stock boosting moves like asset sales, spinoffs, cost cuts and even outright company sales. In recent years, stocks spanning internet, hardware, retail and software have turned from corporate zombies to top-performers, often with the involvement of an activist hedge fund…
AOL Takeover Another Win For Wall Street Bets On ‘Left-For-Dead’ Stocks
