Korr Acquisitions sends letter to GoPro (GPRO), says stock could be worth $9.49-$14.97 per share to buyer

(Updated - February 21, 2020 7:49 AM EST)

Korr Acquisitions sent a letter to GoPro (NASDAQ: GPRO), saying the stock could be worth $9.49-$14.97 per share to a buyer. The firm urged the company to explore strategic alternatives.

The firm recommends the Board convert all class B stock to A, thus getting rid of super voting rights of Mr. Woodman, announce a repurchase plan and hire a banker to explore strategic options, among other things. Korr said management, including Mr. Woodman, should also consider a management buyout.

Korr said they are open to working with the company to unlock shareholder value.

You May Also Be Interested In

• Paramount Global (PARA) and Skydance are closer to a merger - CNBC
• NBA in talks with Amazon, Youtube on new streaming package - WSJ
• KKR said to Shelve $10B Upfield Sale as ADQ Talks Fall Apart - Bloomberg