Daniel Loeb’s hedge fund Third Point will try to force CoStar Group (CSGP) to change board directors and restructure operations, according to Reuters’ Svea Herbst-Bayliss, citing a document and two people familiar with the matter. Third Point is preparing to nominate several directors to CoStar’s eight-person board, said the sources.
Claim 50% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CSGP:
- CoStar Group upgraded to Buy from Neutral at BTIG
- CoStar Group upgraded to Buy at BTIG on improving visibility
- CoStar Group initiated with a Neutral at BNP Paribas
- CoStar Group price target lowered to $75 from $100 at Keefe Bruyette
- Balanced Risk/Reward and Reduced Valuation Drive Hold Rating on CoStar Shares