1. Cars.com Surges as Board Says Potential Sale in Play Following Activist Pressure

    Cars.com Surges as Board Says Potential Sale in Play Following Activist Pressure

    Cars.com ( CARS ) shares surged Thursday after the online car shopping service said it may explore a sale of the company, just weeks after activist investor Starboard Value pressed management to improve performance. Starboard Value, which owns around 9% of the Chicago-based group, told management in a letter published on December 10 that Cars.com had been losing customers for the past two years, leading to a decline in organic revenues...

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