According to TheFly.com FBR Capital says Okumus Fund Management, Web.com’s (WWWW) largest shareholder, could potentially take a more activist stance going forward.
“FBR added that it would not be surprised if announcements were made soon, potentially including a change in the board composition, a review of the company’s operations, accelerating share buyback activity, or the exploration of strategic alternatives.
FBR & Co. (Nasdaq:FBRC) provides investment banking, merger and acquisition advisory, institutional brokerage, and research services through its subsidiary FBR Capital Markets & Co. FBR focuses capital and financial expertise
FBR is headquartered in the Washington, D.C. metropolitan area with offices throughout the United States.
Not a minute too soon, your observation!
Web.com has agreed to allow its largest shareholder to add two directors to its board in exchange for limits on the shareholder’s power, according to SEC filings.
The agreement with Okumus Fund Management Ltd. adds two seats to Web.com’s board of directors, increasing its size from seven to nine.
http://jacksonville.com/business/2015-02-09/story/webcom-reaches-agreement-largest-investor-add-two-directors-its-board