Barington Capital Group, a shareholder of Bill Holdings Inc., has called for significant changes at the company to enhance long-term shareholder value. In a letter addressed to Allie Kline, the Lead Independent Director of Bill Holdings, Barington urged the company to implement a comprehensive cost reduction plan and to explore all strategic alternatives, including a potential sale, merger, or other business combination. The activist investor cited slowing fundamentals, a lack of operating profitability, and prolonged share price underperformance as key concerns. Barington recommended that the Board engage a financial advisor and form a special committee of independent directors to consider these options, emphasizing that Bill Holdings could be an attractive acquisition target for both strategic and financial buyers.