Starboard takes new position in KAR Auction Services


FILE PHOTO: Jeffrey Smith, CEO of Starboard Value LP speaks during an interview on CNBC on the floor of the New York Stock Exchange (NYSE) in New York, U.S., March 22, 2019. REUTERS/Brendan McDermid

BOSTON (Reuters) – Activist investment firm Starboard Value has taken a new position in KAR Auction Services, the firm’s founder Jeffrey Smith said at a conference on Tuesday.

He called the company’s valuation “compelling” at the 13D Monitor Active-Passive Summit.

Reporting by Svea Herbst-Bayliss

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