Activist investor Starboard Value has built an over 9% stake in online travel firm Tripadvisor , a person familiar with the matter said on Wednesday.

Activist investor Starboard Value has built an over 9% stake in Tripadvisor after the online travel-review company eschewed takeover offers in the past year, according to people familiar with the matter.

On Thursday, Starboard Value disclosed a 9% ownership stake in Tripadvisor’s stock of just under 10.64 million shares, or about$159.4 million based on the stock’s closing price of $14.99 a share on Wednesday.