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Yahoo Forms Panel To Explore Strategic Options

by posted 2years ago 12361 views
Yahoo Inc said its board has formed a committee of independent directors to explore strategic alternatives, alongside its plan to revamp and spin off its Internet business. The move comes two days after Bloomberg reported activist investor Starboard Value LP was taking initial steps toward a potential proxy fight with Yahoo. Starboard, which owns about 0.75 percent of Yahoo, has been pushing for changes at the Internet company since 2014, asking it to separate its Asian assets and sell the core business. Yahoo and its Chief Executive Marissa Mayer are under growing pressure from impatient shareholders to turn the web...