Activist investor Barington Capital Group has acquired a roughly $25M stake in business payments firm Bill (BILL) Holdings, joining Elliott Investment Management and Starboard Value in urging the board to consider a sale, Bloomberg’s Crystal Tse reports. The hedge fund is actively engaging with the company. “Based on our research, it is our belief that the company would be an extremely attractive acquisition candidate for both strategic and financial buyers,” Barington CEO James Mitarotonda said in a letter to the board of Bill that was reviewed by Bloomberg. Mitarotonda thinks Bill’s board should “engage a financial adviser and form a special committee of independent directors to explore strategic alternatives for the company, including a potential sale, merger or other business combination.”
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