- Forbes reports TriQuint (TQNT +6.3%) has hired Goldman to act as an adviser in response to ongoing pressure from activist investor Starboard Value. Shares have spiked higher in response.
- Starboard (8% stake as of December) originally disclosed a position in TriQuint last April. In October, the firm called on TriQuint to sell its mobile power amplifier business (has lost share in recent years), and to overhaul/downsize its manufacturing ops to become more efficient. Starboard later nominated six directors for TriQuint's board.
- A banker talking with Forbes suggests selling one of TriQuint's fabs (as Starboard suggests) is easier said than done, given how interdependent the fabs are. "It’s not as if one facility manufactures ball bearings and the other manufactures toasters."
TriQuint reportedly hires Goldman to explore options, shares jump
Feb 11 2014, 10:40 ET