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Yahoo Activist’s Passive-Aggressive Strategy

Published on March 12, 2012
by Rolfe Winkler

Activist investors frequently agitate for companies to break themselves up. Not Daniel Loeb.

Or so it would appear. In his coming quarterly investor letter, the head of Third Point lays out “The Case for Alibaba,” according to extracts reviewed by The Wall Street Journal. Alibaba Group Holding is China’s dominant e-commerce company, in which Yahoo owns roughly a 40 percent stake. Mr. Loeb waxes enthusiastic about Alibaba’s ever-growing valuation, citing a Boston Consulting Group study that the Chinese e-commerce market is likely to overtake that of the U.S. by 2015.

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