Infospace (INSP) was scheduled to appear at the JPMorgan Global Internet Conference today. It appears that they have canceled the appearance as the timeslot has passed and they are no longer on the schedule.
Tom Sandell, the CEO and Senior Portfolio Manager of Sandell Asset Management Corp., holder of 8.8% of Infospace, stated in a press release today that “We believe that InfoSpace shares are materially undervalued and the board and management should take immediate steps to improve that value. If the company and the board are unable or unwilling to take these steps, we think the company should be sold. As the company’s largest shareholder, our interests are directly aligned with the rest of the shareholder base in seeing value maximized and we may seek representation on the board to protect those interests.”
For more detail on Sandell’s valuation assessment, visit page 23 and 24 of this SEC pdf filing.
In your opinion, who would make good acquirers of Infospace and why do you think that?