Starboard takes new position in KAR Auction Services By Reuters

© Reuters. Jeffrey Smith, CEO of Starboard Value LP and Chairman of Papa John’s International Inc., speaks during an interview on CNBC on the floor of the NYSE in New York

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.

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