Starboard Value Says Strategic Review Of AECOM's Assets Necessary

(RTTNews) - Starboard Value LP, which owns about 4.0% of AECOM's (ACM) outstanding shares, viewed AECOM's announced intention to separate its Management Services segment as a positive first ftep but believed an expansive and open-minded strategic review of the company's assets is necessary.

In a letter to AECOM CEO and Board of Directors, Starboard said it believed AECOM is deeply undervalued and significant opportunities exist to unlock value through operational and strategic initiatives.

Starboard said it believed the Company's recent operating performance was directly a result of poor execution, rather than a result of uncontrollable external factors.