2023-05-30 20:38:33 ET
- Twilio ( NYSE: TWLO ) rose 4.6% in after hours trading amid a report that activist investor Legion Partners has met with the company and is pushing the communications software company to make changes.
- Legion Partners has met several times with the board and management and is urging the company to make board changes and evaluate divestitures, according to a report in The Information on Tuesday, which cited people familiar.
- The discussions come at important time for Twilio ( TWLO ) as the use of supervoting shares is set to expire in less than a month, according to the report. Other activists have considered targeting Twilio in the past, though the supervoting share issue was viewed as an obstacle.
- Twilio ( TWLO ) announced in February it planned to cut about 17% of staff and close offices.
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Twilio gains amid report activist Legion Partners has met with board