Engine Capital Sends Letter To Board Of Avantax Regarding Urgent Need To Explore Strategic Alternatives
Portfolio Pulse from Benzinga Newsdesk
Engine Capital has sent a letter to the board of Avantax, urging them to explore strategic alternatives, including a potential sale of the company. The sale could fetch between $27 and $32 per share, representing a 34% premium for stockholders.
June 05, 2023 | 11:10 am
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Engine Capital is urging Avantax's board to explore strategic alternatives, including a potential sale of the company at a 34% premium for stockholders.
Engine Capital's letter to Avantax's board suggests that the company could be undervalued and that a sale could unlock significant value for stockholders. This news could lead to increased interest in the stock and potentially drive the price higher in the short term.
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