Barington Targets Bill Holdings for Sale Amid Activist Pressure

Activist investor Barington Capital has taken a $25mln stake in Bill Holdings and urged the board to explore a sale. Barington believes the company would be an attractive acquisition candidate and has called for a special committee to explore strategic alternatives. The move comes after Elliott and Starboard Value also built positions in Bill. Bill has already been exploring a potential sale and working with an adviser. Shares have climbed 11% since the news, giving the company a market value of $5.2bln.