SpringOwl Activist Presentation Deck
And $2.5 Billion Is Under-water on Stock Buybacks
From The Last 2 Years:
▪ Since Dan Loeb left the Yahoo Board in July 2013, all of Mayer's $2.5 billion in stock buybacks are under-water
Total Buybacks
Year
2010
2011
2012
2013
Current $YHOO Stock Price: 33.2
As of 10/25/2015
2014
Total
Value Destruction Per Share: 8.44
Total Value Destruction:
SpringOwl!
Asset Management LLC
Shares
119,000,000
27,476,742
79,585,394
6,350,973
46,471,212
$278,884,321
$2,353,783,669.24
Value
1,749,000,000
416,272,641
1,451.637,587
231,302,437
2,103,287,055
$5,951,499,720
Note: Dan Loeb (Third Point LLC) quit Yahoo's board on July 22,2013- Since then, all of Yahoo's stock buybacks are under-water.
Source: SpringOwl Asset Management LLC
AVG Price
14.69
15.15
18.24
36.42
45.26
25.952
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