Starboard Value and Opportunity Master Fund and other Starboard entities hold a 9.0% stake in Tripadvisor (TRIP), the firm confirmed in a regulatory filing. Starboard purchased the shares based on the belief that the “shares, when purchased, were undervalued and represented an attractive investment opportunity,” the filing noted. The activist investor intends to engage with the the company’s management and board of directors “regarding opportunities for value creation,” the filing added. In pre-market trading, Tripadvisor shares are up $1.31, or nearly 9%, to $16.30.
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