Someone Is About To Get Torched On Yelp - Dealbreaker

If you’re wondering what’s behind the particularly blistering review of investment bank Evercore by Yelp user “SQNhedge,” be advised:

Yelp, the review site for restaurants and local businesses, has hired Evercore to help defend the company against an activist investor, who recently called for a board shake-up and potential sale, according to people familiar with the matter.

Hedge fund manager SQN, which owns 4 percent of Yelp shares, released a presentation on Jan. 16, about the company's "significant underperformance," and said that based on its own research "an immediate sale to a private equity firm could yield a $47 to $50 stock price." The shares are currently trading at $37.59.

Yelp hires Evercore for activist defense after hedge fund calls for potential sale of company and board overhaul [CNBC]

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