Irenic Capital Management has taken an activist position in Snap Inc, urging the social media company to implement a series of strategic, operational and governance changes aimed at improving performance and shareholder value, according to a report by Bloomberg.
The hedge fund, which holds an economic interest of roughly 2.5% in Snap’s Class A shares, outlined its proposals in a letter to chief executive and co-founder Evan Spiegel. Irenic believes the company’s stock could exceed $26 per share...
Continue Reading
Sign up for FREE to read the full article and access 131K+ alternative investment headlines.