By Kevin McCauley
Netflix, which is under attack by activist investor Carl Icahn, has reached out to Sard Verbinnen & Co for PR counsel.
Icahn has collected a nearly 10 percent stake in the video/streaming company. He believes the Los Gatos-based company is a prime acquisition candidate for a deep-pocketed suitor such as Apple, Microsoft, Google or Amazon.
Netflix on Nov. 5 put a “poison pill” in place that is triggered in the event that an outside investor accumulates a 10 percent investment stake. The stockholder rights plan does not go into effect in the event that Netflix’s board supports an outside investor’s merger or other business combination plan.
Netflix earned $7.6M on $905M third-quarter revenues. Its shares trade at $80.59. The 52-week range is $133.43 and $52.81. |