Tuesday, November 28, 2023 11:10:36 AM
https://www.baystreet.ca/stockstowatch/16519/Anson-Funds-Buys-into-Twilio-Urges-Sale16519
Activist investor Anson Funds has built a stake in Twilio (NYSE:TWLO) and sent a letter to the enterprise software company’s board pushing for the sale of the entire business.
Twilio shares rose as much as 2% on the news in Tuesday morning trading, but later gave back most of those gains.
Anson did not hold any Twilio stock for the period ending Sept. 30, according to securities filings, but has since built a stake valued at around $50 million, the person familiar said. The letter to the board urges Twilio to either sell itself or at a minimum, divest its data and applications business, the person familiar said.
The growth of the stake coincided with Anson’s hiring of Sagar Gupta from Legion Partners. Gupta led Legion’s activist engagements with Twilio and Nutanix, a cloud computing firm.
“Twilio regularly engages with shareholders and appreciates constructive input that furthers our goal of creating sustainable long-term value,” a Twilio spokesperson told the media.
The continued activist attention caps off a challenging year for Twilio, which makes software that helps businesses engage with their customers. The company’s stock is up around 28% year-to-date but remains well off its 2021 highs. In February, the company cut around 1,500 employees, or 17% of its workforce citing a need for heightened efficiency. Those layoffs followed a similar headcount reduction in September 2022.
TWLO shares neared noon EST on Tuesday in the green $2.30, or 3.7%, to $65.15.
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Recent TWLO News
- Twilio to Announce First Quarter 2024 Results on May 7, 2024 • Business Wire • 04/09/2024 08:05:00 PM
- New Twilio Study Points to Lack of Customer Data as Major Obstacle to Reaping AI Rewards • Business Wire • 04/09/2024 01:00:00 PM
- Anson Funds Comments on Recent Events at Twilio • Business Wire • 04/04/2024 01:00:00 PM
- Exxon Mobil Forecasts Earnings Decline, Twilio Seeks Board Tenure Changes, and More News • IH Market News • 04/04/2024 11:30:20 AM
- Twilio Announces Retirement of Byron Deeter and Board Declassification • Business Wire • 04/03/2024 11:36:00 PM
- Twilio Appoints Andy Stafman to Board of Directors • Business Wire • 04/01/2024 12:00:00 PM
- Twilio Launches Unified Profiles and Agent Copilot, Combining Customer Data and AI to Boost Productivity and Engagement • Business Wire • 03/27/2024 01:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 03/05/2024 02:03:59 PM
- Twilio Concludes Operational Review of Segment Business and Announces $2 Billion Expansion of Share Repurchase Authorization • Business Wire • 03/05/2024 02:00:00 PM
- Twilio to Participate in Morgan Stanley Technology, Media & Telecom Conference • Business Wire • 03/01/2024 09:05:00 PM
- Form S-8 - Securities to be offered to employees in employee benefit plans • Edgar (US Regulatory) • 02/27/2024 09:33:46 PM
- Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405] • Edgar (US Regulatory) • 02/27/2024 09:21:51 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/23/2024 11:55:17 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/23/2024 11:52:14 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/22/2024 11:53:32 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/22/2024 12:33:17 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/22/2024 12:29:44 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 02/21/2024 09:43:17 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 02/21/2024 09:41:35 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/20/2024 10:08:27 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/20/2024 10:03:46 PM
- Twilio Report Reveals Customer Data Platforms are a Critical Foundation for AI-Driven Customer Insights • Business Wire • 02/20/2024 02:00:00 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 02/15/2024 08:14:53 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 02/15/2024 08:14:15 PM
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