Reported 8 months ago
Activist investor Starboard Value has purchased a roughly $500 million stake in Autodesk and is advocating for changes at the design-software company, as reported by the Wall Street Journal. Starboard is pushing for improved margins and modifications to the board, with recent discussions involving concerns over operations, corporate governance, and a prior accounting investigation. Autodesk, in response, has initiated an internal investigation into its free cash flow and operating margin practices. The company expressed confidence in its strategic direction and welcomed shareholder input amid Starboard's actions.
Source: YAHOO