Vonage gains after report activist Jana pushing for sale or break up
Aug. 31, 2021 10:17 AM ETTelefonaktiebolaget LM Ericsson (publ) (ERIC)By: Joshua Fineman, SA News Editor1 Comment
- Vonage Holdings (NASDAQ:VG) rose 5.3% after a report that activist Jana Partners is asking the company to explore alternatives, including a sale of all or parts of the telecom company.
- Jana has discussed its beliefs with the company and fellow holders after a previous review process didn't result in a sale, according to a Bloomberg report.
- Bloomberg reported in May that Jana built a stake in the company and was expected to push for changes.
- Vonage announced in February that it was terminating the sale process for its consumer business after a nine-month review of the unit.