Deals
Starboard Boosts Pressure on Yahoo to Unlock Alibaba Value
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Activist investor Starboard Value LP intensified pressure on Yahoo! Inc. in a new letter urging Chief Executive Officer Marissa Mayer to disclose her plans for assets such as a stake in Alibaba Group Holding Ltd.
In the letter, addressed to Mayer from Starboard CEO Jeffrey Smith, the investor said it had become “increasingly concerned” by reports that the Web portal is looking to make major acquisitions. He reiterated that Yahoo should unlock value by monetizing assets -- which include stakes in Alibaba and Yahoo Japan Corp. -- trimming costs and exploring a combination with AOL Inc.