(Reuters) -Activist investor Starboard Value has built an over 9% stake in online travel firm Tripadvisor, the Wall Street Journal reported on Wednesday.
Shares of Tripadvisor rose over 10% in extended trade after the news.
According to the report, the Jeff Smith-led investment firm has a stake valued at around $160 million based on Wednesday’s closing prices.
The investment is expected to be revealed in a regulatory filing on Thursday, the report added, citing people familiar with the matter.
Tripadvisor and Starboard did not immediately respond to Reuters’ requests for comment.
The stake would make Starboard one of Tripadvisor’s largest shareholders, according to WSJ.
(Reporting by Nathan Gomes in Bengaluru; Editing by Alan Barona)
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