Photographer: Noah Berger/Bloomberg

Starboard's Yahoo Push Is Fund's Biggest Target — and Challenge

  • Fund pursues Web portal with relatively small 1.7% stake
  • Yahoo is already weighing options that may include a sale

Starboard Value LP has proved its mettle as an activist investor by overthrowing the board at Olive Garden’s parent company and pushing a focus on real estate at Macy’s. Yahoo! Inc. -- the latest object of Starboard’s proxy fight agitation -- presents a far bigger challenge.

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