Starboard Value Sends Letter to Match Group Regarding Opportunities to Substantially Increase Shareholder Value
July 16 2024 - 6:00AM
Business Wire
Believes Match is a Growing, High-Quality
Market Leader with an Enviable Position in the Expanding Online
Dating Market
Lays Out Initiatives for Improving Growth,
Profitability, and Capital Allocation Following Long-Term Share
Price Underperformance
Outlines Opportunity for Match to Generate
$5.50+ of Free Cash Flow Per Share in 2026 and Create Significant
Shareholder Value, But Urges the Board to Remain Open to Strategic
Alternatives if a Turnaround Proves Challenging
Starboard Value LP (together with its affiliates, “Starboard”),
which holds approximately 6.6% of the outstanding common shares of
Match Group, Inc. (NASDAQ: MTCH) (“Match” or the “Company”), today
announced it sent a letter to the Company’s Chief Executive
Officer, President & Chief Financial Officer, and Board of
Directors regarding actionable opportunities for enhancing
shareholder value. In addition, the letter lays out Starboard’s
view that Match should explore a sale in the event the Company’s
leadership is unable to execute on the prescribed value-enhancing
initiatives.
The letter can be accessed at
https://www.starboardvalue.com/presentations.
About Starboard Value LP
Starboard Value LP is an investment adviser with a focused and
differentiated fundamental approach to investing in publicly traded
companies. Starboard invests in deeply undervalued companies and
actively engages with management teams and boards of directors to
identify and execute on opportunities to unlock value for the
benefit of all shareholders.
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version on businesswire.com: https://www.businesswire.com/news/home/20240716279903/en/
Investor Contacts: Peter Feld, (212) 201-4878 Gavin Molinelli,
(212) 201-4828 www.starboardvalue.com Media Contacts: Longacre
Square Partners Greg Marose / Charlotte Kiaie, (646) 386-0091
starboard@longacresquare.com
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