Activist Barington Targets Bill Holdings, Pushes for Sale (1)

Activist investor Barington Capital Group has taken a stake in business payments firm Bill Holdings Inc., joining Elliott Investment Management and Starboard Value LP, and is urging the company’s board to explore a sale.

The hedge fund has built a roughly $25 million position and is engaging with the company, according to people familiar with the matter, who asked not to be identified because it’s private.

“Based on our research, it is our belief that the company would be an extremely attractive acquisition candidate for both strategic and financial buyers,” Barington Chief Executive Officer James Mitarotonda said ...